Emap goes international

Emap is increasing its international expansion

UK publishing group Emap has announced a sharp jump in its profits as a result of sharply higher magazine sales in the UK and France amid global expansion plans.

Profits were boosted by sales of UK publications, including men's lifestyle magazine FHM, women's magazine Red and music title Q, and the launch of FHM in France and other countries.

And the company said its double digit growth in both France and the UK should boost profits again this year.

"Trading has got off to the good start we expected for the current year and there is much to play for as we develop the value of our content, brands and market-leading positions," Emap chief executive Kevin Hand said.

The company said its pre-tax profit rose 14% to £184.3m from £161.6m in the year to March.

Profits from its UK operations grew by 14% to £73.9m while profits from the company's French business rose by 15% to £37.8m.

Worldwide expansion

Following the recent launch of FHM in France, South Africa and the US, the company is now planning to launch the magazine in Scandinavia, Eastern Europe, Taiwan and Brazil as part of a £12m to £15m investment.

The company, which also has stakes in several radio stations, plans to invest between £200m and £250m in developing its digital business.

In a new joint venture with Channel 4, the company hopes to develop digital products and services for the UK youth market.

Emap will also increase investment in its lagging US business this year to improve its brand quality and subscriber base.

The company said its US magazine business had been hit by a slowdown in advertising revenue in the second half of last year and noted that it expected US revenues to be volatile again this year.