The Week: City News - Emap profits down 16%

Emap has reported pre-tax profit down 16 per cent year on year to £80 million for the six months to the end of September, while revenues fell 1 per cent on an underlying basis to £386 million.

The group's radio business delivered growth in revenue, profit and audiences, but revenue at the consumer magazines division was down 6 per cent at £173 million. Alun Cathcart, the Emap chairman, said the company's review of a possible sale was progressing, adding: "We are encouraged by progress on our review of group structure, which is firmly on track, and we remain committed to exploring all options to maximise shareholder value."