EMI weathers poor first half

Music company says it is confident of full-year forecast

EMI sees pretax profit slumping 34% in the first half to £27 million (about $50 million) as its release sked skews heavily to later in the year with new albums by Robbie Williams, Norah Jones and Keith Urban.

In a financial update Monday, the London-based music company — home to Coldplay, Paul McCartney and the Rolling Stones — said revenue dipped 3% for the six months ended in September.

EMI faced tough comps from the year-earlier period, which included sales of Coldplay’s top-selling “X&Y.”

The shares rose 1.57% in London.

Digital music repped about 9% of recorded music revenue.

EMI suspended contentious merger talks with U.S. rival Warner Music earlier this year after a European court annulled earlier approval of the 2004 merger of Sony Music and BMG.

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