-Emap has announced a sharp jump in its profits on the back of higher magazine sales in both the UK and France while its US business performed less well.
Pre-tax profits for the year ended March 31 rose 14 per cent to £184.3 million.
Profits were boosted by strong 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.
Emap said it will increase its investment in its US business which has been hit by a slowdown in US ad revenues in the second half of last year. It expects US revenues to be volatile again this year, but expects the double digit group in the UK and France to be repeated in 2000.
Kevin Hand, Emap chief executive, said: "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 recently launched 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.