The media group, which also owns Kiss FM and celebrity magazine Heat, presented normalised results for the 12 months to March 31 excluding the impact of the sale of Emap USA.
Turnover rose 3% to £967m and operating profit rose 14% to £191m. Emap said the "normalised" results provided a "better indication of overall financial performance". In real terms, including the disposal of its US business to Primedia, Emap saw total turnover for the year fall by 6% to £967m and pre-tax profits were up to £140m.
The news helped push Emap shares up 2.02% this morning to 834.5p a rise of 18p..
Emap said strong circulation figures helped it to hit a year-on-year increase in consumer magazine advertising revenues of 5%. Key titles behind the ad growth included Heat, Max Power, New Woman, Today's Golfer and Angling Times.
Closer, its new celebrity and human interest title, was launched in September 2002 by the publishing team behind Heat, and Emap said was now selling more than 300,000 copies a week. Emap invested a hefty £10m in the title and it is expected to break even by 2004/05.
Emap chief executive Tom Moloney said: "Emap has proved its growth potential this year through a combination of solid organic growth, the launch of successful new products such as Closer, and bolt-on acquisitions, with the Excelsior acquisition in France moving us up to number two in this market."
He added: "While media markets in general remain volatile, we are confident of making solid progress in the coming year."
Emap said it planned to invest £23m in development and new projects this year. It said investment will be continued in recently launched consumer magazines in the UK, France and the US as well as in digital radio and music television.
These ongoing activities, it said, will use up £13m, with £10m earmarked for new launch activity.
Emap said digital revenues for the year were £19m and that its digital activities achieved profitability during the year with an operating profit of £3m against a loss of £16m last time.
At Emap's consumer magazine business, total turnover was up 2%, with strong performances from key UK titles and the success of FHM in the US. Emap said the performance more than offset the loss of Elle and Red to Hachette.
It said its UK magazines performed strongly, increasing share of retail sales value from 15% to 16% in the July-December 2002 ABCs, and underlying circulation revenues across Emap's UK portfolio rose by 8% year on year.
Internationally, Emap now has 17 editions of FHM following its recent launch in Thailand. It said FHM in the US continues to be the fastest growing magazine on the newsstand and is selling 1.1m copies a month.
Emap Communications, which includes its business-to-business magazines and trade exhibitions, saw total turnover reduced by 1% and profits down by 2%.
Emap's B2B recruitment advertising was down 2%. Emap said the Health Service Journal had been Emap Communications' star this year. Emap's underlying B2B display advertising was 4% down year-on-year.
Its radio and TV arm Emap Performance saw turnover increase by 12%, boosted by strong TV revenue growth and launch activity. However, operating profit reduced by 10% due to increased launch investment.
Emap's radio revenues were down 1% in this period, with approximately 70% of revenues coming from national advertisers. Emap's relative performance was markedly different in the first half, down 7% against a market up 3%, to the second half, up 5% and outperforming a market up 3%, helped by a strong performance from Kiss in London in the last quarter.
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