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Whatever happened to the lads? Emap faces up to lost revenue and readers

Simon Bowers
Friday July 14, 2006
The Guardian

Emap pointed to steepening declines in circulation for Britain's best-selling lads' magazine FHM as it warned a shareholder meeting yesterday that the media group faces a year of flat revenues. Shares dropped 125p, or 15%, to 712p in response.

Emap's outgoing chairman Adam Broadbent told the meeting sales trends since the start of last month 'make us more cautious about the prospect for underlying revenue, which may be marginally down in the first half'. He said underlying revenues - excluding the impact of new launches, acquisitions and disposals - were not likely to exceed the £1.07bn earned last year.

Underlying re"