Quiet first half hits EMI profits
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Music giant EMI sees profits fall in the first half of the year after opting to delay its major releases.
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Tesco has reported a slight slowdown in sales growth for the first quarter of 2007.
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LONDON  - British music group EMI reported a fall in interim profits as sales dropped by 11.4 percent, reflecting a release schedule skewed towards the second half and the strength of sterling.
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Radio One yesterday reported a 71 percent decline in profit for the first quarter of the year compared with the corresponding period in 2006, as the Lanham company works to realign its strategy in urban markets.
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HARMONY Gold Miningâs hopes of winning control of the rival Gold Fields appeared to be boosted yesterday, as Harmony swung to a first-quarter profit at operating level.
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Interpublic posted slightly lower quarterly revenue but swung to a profit as expenses fell and public relations clients increased spending.
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Australia's Tabcorp Holdings Ltd.   posted a 3.6 percent fall in first-half profit  Tuesday, partly due to the impact of smoking bans at its  casinos, and ruled out major acquisitions until its performance  improved.
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The investment firm posts a strong profit report, but shares slid.
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EMI Group PLC, one of the world's biggest music companies, reported a small loss for the first half of its fiscal year Friday but said it expected an improvement in the second half which will reflect the release of several new albums that are already selling well.
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Insurer and fund manager AMP has reported a better-than-expected profit for the first half on higher investment returns and improved margins after casting off its British operations.
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A swing to growth in U.S. album sales and surging consumption of music on DVD helped slow the decline in first-half global sales of recorded music, the trade body for the world's largest record companies said on Thursday.
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The book publisher reports slightly lower earnings as revenues rise.
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European stock markets drifted lower in early trading as profit-taking set in after recent gains, despite a modest rise on Wall Street and well-received results from cellphone giant Vodafone.
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EMI Group, the world's third-biggest music company, has issued its second profit warning in little over a month, blaming the move on an &quot;unprecedented&quot; decline in US sales of compact discs.
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The Warner Music Group said first-quarter profit fell 74 percent on an 11 percent decline in sales.
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EMI, the world's third-largest music group, reported a 7 percent drop in first-half profits on Friday but said the beleaguered industry was rebounding as digital music sales start to take off.
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Warner Music Group Corp., home to recording artists such as Red Hot Chili Peppers, James Blunt and Daniel Powter, said Thursday its first-quarter profit fell 74 percent due to fewer albums released during the period and soft domestic and European sales. Its shares fell nearly 5 percent.