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Emap's results manage market expectations |
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Written by Business Weekly
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Wednesday, 07 February 2007 |
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Media group Emap has blamed weak market conditions for its full year results being at the bottom end of market expectations.
It also said that it expects trading conditions to remain challenging for 2007/8, but that it expects cost saving measures to generate £20m annually after a single charge of £30m plus capital costs of £10m. Savings will be delivered over the next two financial years and the full benefit will be achieved during 2008/9, Emap said. The news shaved six per cent from Emap's share price, leaving it at 761.5p. |
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