EMI reports profits boost
20/04/2006 - 08:47:29Music giant EMI today said it expected to report a 12% hike in profits after successful album releases by Coldplay, Robbie Williams and The Rolling Stones last year.
London-based EMI, the world’s third largest record company, also said revenues would be up 4% in the year to March 31 after digital music sales soared.
In a trading update ahead of its annual results, EMI said both its record label and publishing arm, which sells music rights to film and television makers, outperformed the global industry last year.
This time last year, EMI banked pre-tax profits of £141.1m (€204m) on the back of £2bn (€2.9bn) of revenues. Shares in the company were up 5% today.
