EMI MUSIC ACHIEVES RECORD FIRST-HALF RESULTS
EMI MUSIC ACHIEVES RECORD FIRST-HALF RESULTS NEW YORK, Nov. 19 /PRNewswire/ -- EMI Music today announced record
results for the first half of the 1991/92 financial year.
For the six months ended Sept. 30, 1991, sales increased 1.5 percent from $825.1 million to $837.4 million, while profits increased 12 percent from $79.4 million to $88.9 million. Both recorded music and music publishing achieved record profits. The success in recorded music was due to strong chart performance and continued productivity gains throughout the organization. Chart hits were truly international in scope. In North America, Garth Brooks dominated both Billboard's Pop and Country Albums charts. His new release "Ropin' the Wind" entered both charts at Number One, an unprecedented accomplishment, while his two previous releases remained in the Top Forty of both charts throughout the period. Bonnie Raitt reached the Number Two position on the U.S. Pop Chart with "Luck of the Draw," the follow-up to her Grammy-winning "Nick of Time." EMF and Jesus Jones topped the charts in the United Kingdom and North America, as they each exceeded 1 million in worldwide album sales. The Swedish duo Roxette continued its phenomenal success, reaching Number One in seven countries and spending 17 of 26 weeks as one of Europe's top three albums. EMI Music Publishing once again turned in record profits while strengthening its leadership position in the industry. Recent awards include 1990 ASCAP (Pop and Country) and BMI (Pop) Music Publisher of the Year. Jim Fifield, president and chief executive officer of EMI Music, commented, "I am very pleased with the success achieved by EMI Music over the past six months. These results, coming on top of last year's record performance, are particularly impressive in light of the generally sluggish worldwide music markets. With our planned second- half releases, I am confident we will be able to maintain our momentum for the balance of the year." -0- 11/19/91 /CONTACT: Yon Elvira of Susan Blond, Inc., 212-333-7728, for EMI Music/ CO: EMI Music ST: New York IN: ENT SU: ERN CK-GK -- NY062 -- 5017 11/19/91 14:08 EST
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|Date:||Nov 19, 1991|
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