Emap B2B setup posts £2m loss

by John Reynolds, mediaweek.co.uk 21-Apr-09, 07:30

LONDON - Emap, the business-to-business publisher behind titles such as Nursing Times, slid to a pre-tax loss of £2m in the year ending 31 March 2008, down from a pre-tax profit of £13m a year earlier, according to accounts filed at Companies House.

The business-to-business titles were acquired from Emap plc by private equity firm Apax Partners and Guardian Media Group for £1.3bn in March last year.

Accounts for Emap International Limited reveal that revenues at its B2B operations were £283m for the period under review, made up of £254m in the UK and £29m across the rest of the world.

Emap's business-to-business operations turned over £278m in the equivalent period in 2007.

Emap, under chief executive David Gilbertson, has since implemented a number of significant measures to better compete across a tough advertising market.

At the end of last year, it abolished subscription charges for many of its websites, including Health Service Journal, Retail Week and Drapers.

It also axed 40 jobs among its 400-strong workforce.

Emap declined to comment on the financial results.