Emap on song as Londoners tune in

MEDIA group Emap is cashing in on bumper growth in the number of Londoners tuning into its Kiss 100 and Magic 105.4 FM as advertising revenues across the two stations near record highs.

The group, which also owns lad mag FHM and celebrity gossip title heat, has a 9% share of the London market - more than Capital 95.8 FM.

Finance director Gary Hughes said Kiss and Magic's ad revenues would be 30% higher in the first half to 30 June. He forecast group revenue growth for the six months of 3%. But Emap was cautious about the timing of a wider advertising recovery.

Full-year profits should exceed previous forecasts of £190m, compared with £175m last time. A 're-phasing' of launches would cut product development spend by £4m.