RNS Number:0386Q
EMAP PLC
23 September 2003

                               23 September 2003

                                    Emap plc


                        PRE-CLOSE PERIOD TRADING UPDATE
                      SIX MONTHS ENDING 30 SEPTEMBER 2003


This trading update provides an overview of Emap plc's revenues and general
trading for the six months ending 30 September 2003, prior to its interim
results announcement which is scheduled for 11 November 2003, and before
entering its close period.  The figures below are unaudited and include
estimates for the month of September so may therefore differ slightly from the
final numbers that will be reported.


The headlines are as follows:


*         Revenue momentum maintained  - total Group revenues up 3%
*         Underlying* Group revenues up 3% as well
*         Revenue growth across all four divisions -
          o     Emap Consumer Media up 6%
          o     Emap Communications up 4%
          o     Emap Performance up 2%
          o     Emap France up 1%


* Underlying, or like-for-like, is adjusted to strip out the impact of
acquisitions, disposals, launches and closures.


At the interim stage, total revenues across the Group are expected to increase
by 3% in the first six months of 2003/04, 3% on an underlying basis.


In the UK, underlying consumer magazine circulation revenues have continued to
progress well, growing 4% in the period.  This has come from a broad spread of
titles across the portfolio, with heat, Max Power, Empire, Match, Mojo and
Angling Times stand-outs in terms of performance.  Closer, which is now one year
old, is not included in the underlying results and continues to build extremely
well on its maiden audited circulation of 334,000 announced in August.  Consumer
magazine advertising has also been good, with underlying growth of 5% in the
first six months of the year.  Healthy performances across most of the portfolio
were boosted by strong advertising growth from heat, Motor Cycle News and Max
Power in particular, although the music portfolio has seen some weakness.


B2B recruitment revenues were down 1% in the first half and remained volatile
throughout the period, although Health Service Journal again performed extremely
well.  After two difficult years, B2B display advertising was up 3% in the
period, led by Drapers Record, Retail Week and MEED.  Underlying B2B exhibition
revenues were strong, up 6%, with The Autumn Fair and GLEE now successfully
completed and ahead of prior year, and continued growth in conference revenues
as well.


Radio airtime revenues were up 9% in the first half of the year after an
exceptionally strong first quarter, driven by national revenues.  This largely
reflects significant share gains in London across Kiss and Magic on the back of
healthy audience growth.


As previously highlighted, airtime revenues across Emap's music television
channels slowed markedly in the period as this fledgling market entered a new,
highly competitive phase of its development.  A small reduction in audience was
compounded by a weak overall TV market over the summer, resulting in revenues
being down 10%.


In France, the trading environment continues to be fairly tough.  Consumer
circulation revenues at the newsstand were down 1% while subscription revenues
were up 1%.  Consumer advertising has improved slightly from the first to the
second quarter, and increased by 3% across the period, largely due to a good
performance from the key TV listings titles, Tele Star and  Tele Poche.


In the US circulation revenues for FHM were down 9% due to a re-balancing of the
sales mix between news-stand sales and subscriptions, while advertising revenues
continued to grow well - up 35% in the period.


With six months of the current financial year nearing completion, the Group is
broadly where it expected to be at this stage in the year, although the Group's
overall trading environment was slightly tougher towards the end of the period.
However, in the round the Group expects to marginally exceed its previous profit
expectations for the 2003/04 full year due to the re-phasing of certain new
product development activities.  This will mean that the current year investment
in new product development will be nearer to #19m rather than the #23m
previously advised.


Current Trading - October/November 2003


Although there has been a degree of short-term optimism in the wider UK market,
Emap, like many of its peers, believes that it is much too early to say that
this will lead to any major change in current market conditions.  Against this
backdrop, Emap continues to maintain good progress towards its full year goals.


In terms of current trading, Emap's consumer magazine portfolio in the UK
continues to trade reasonably well, although the lead-time on forward
advertising bookings has marginally shortened.  FHM in the US may consider an
increase in its circulation rate base over the next few months from 1.1 million
copies to 1.2 million, and advertising revenue growth remains robust.


B2B recruitment advertising is maintaining the volatile pattern of the first
half, while B2B display advertising continues to show reasonable year-on-year
growth.  After a good first half the Group's major exhibitions are well-booked
in terms of advance bookings over the remainder of the year.


The forward booking position on both national and local radio revenues remains
healthy, with good demand and a good forward sale into both October and
November.


In France the market remains stable, but overall does not offer much in terms of
potential short-term growth.  This said, advertising appears marginally more
certain in October and November.


A further trading update will be provided with the interim results announcement
on 11 November.




For further information contact:


Emap plc                                                           020 7278 1452
Gary Hughes, Group Finance Director
Miranda Acland, Group Communications Director


Brunswick Group                                                    020 7404 5959
Patrick Handley
Fiona Laffan



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