Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Thursday 20 April, 2006


Trading Statement

20 April 2006

EMI Group provides trading update for the financial year ended 31 March 2006
ahead of the announcement of its preliminary results on 23 May 2006

  * EMI Group expects to report strong growth in profits for the financial year
    ended 31 March 2006, with EMI Music and EMI Music Publishing both 
    outperforming the global recorded music industry
  * EMI also announces it has identified an additional £30m of annualised cost
    savings, further aligning the business for the rapidly developing music 
    marketplace driven by digital growth
Trading update

Overall, the Group expects to report full year revenue growth of close to 4%,
with digital revenues more than doubling to over £110m. Group profit before
tax, amortisation and exceptional items (`adjusted PBT') is expected to have
increased by approximately 12%.

EMI Music gained market share in the year, outperforming a global recorded
music market which remained challenging in some regions. On a constant currency
basis, the division's revenues are expected to have increased by approximately
2% for the full year, with second half revenues being marginally ahead of the
previous year's level. Digital revenues continued to show rapid growth,
increasing by more than 150% at constant currency and accounted for over 5.5%
of EMI Music's revenues for the full year. This strong divisional performance
reflects successful releases from a broad range of artists including
international superstars Coldplay, Gorillaz, Robbie Williams and The Rolling
Stones, local superstars Radja from Indonesia, Raphael from France and RBD from
Mexico, and breaking artists KT Tunstall, Dem Franchize Boyz and Corinne Bailey

Higher revenues combined with the remaining £15m of annualised cost savings
from the March 2004 restructuring initiative and an increasing proportion of
revenues from digital, resulted in a year-on-year improvement in the EMI Music
operating margin of almost one percentage point and operating profit growth of
approximately 15%.

EMI Music Publishing had another successful year and expects to report constant
currency revenue growth of approximately 2.5%. Digital revenues also grew
strongly and accounted for approximately 4.5% of divisional revenues in the
year. As anticipated, operating margin improved significantly in the second
half, resulting in a modest increase in the full year margin.

Cost savings and other initiatives

EMI Group will be implementing a series of initiatives designed to ensure EMI
Music and EMI Music Publishing continue to be best-positioned to operate
effectively and efficiently in the increasingly digital marketplace. These
initiatives will involve most regions and will be focused on improving and
re-aligning resources to ensure the organisation remains flexible and

A particular area of focus is EMI Music's Japanese business, where new skills
and a new organisational structure will be introduced to enable the
re-allocation of resources into the key areas of A&R and marketing whilst
maintaining an aggressive approach to digital business development. This
programme is designed to drive increases in both future market share and levels
of profitability.

In conjunction with these restructurings, EMI Music plans to enter into sale
and leaseback agreements for its two Japanese properties and other property in
the US.

EMI Group expects that in total these initiatives will deliver cost savings of
at least £30m per annum. It is anticipated that not less than £10m of these
savings will be delivered in the financial year ending 31 March 2007, with the
full run rate achieved by the end of the following financial year. The total
cash cost of these restructuring initiatives of approximately £60m, will be
more than offset by the cash proceeds from the property disposals.


The figures shown are unaudited and hence may vary from the final numbers that
will be reported.

All figures are at statutory rates unless otherwise stated.

All statements relating to profit refer to profit pre exceptional items,
remeasurements and amortisation of music copyrights and intangibles.


EMI Group plc

Amanda Conroy         Corporate Communications    +44 20 7795 7529           
Claudia Palmer        Investor Relations          +44 20 7795 7635           
Susie Bell            Investor Relations          +44 20 7795 7971           
Sonia Shah            Investor Relations          +44 20 7795 7625           

Brunswick Group LLP

Patrick Handley                                   +44 20 7404 5959

a d v e r t i s e m e n t