More on Emap
Emap: AGM statement
Saturday, 15 July 2006
The statement contained few numbers, however it did contain worrying comments on both sales and ad-revenues.
The problems with sales are that some magazines (men’s and automotive are mentioned) are in decline, offsetting growth elsewhere. Together with weaker ad revenues with both radio and magazines this is expected to lead flat sales for the full year look likely to be close to flat.
At 723p Emap has fallen 16%. This puts it on broadly still on a similar valuation - long term prospects for the core businesses remain good.
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