EMI Posts Mixed Report

EMI Posts Mixed Report
EMI Music has released its annual report with figures revealing an overall increase in revenue to $2.5 billion, up from $2.43 billion in the previous year, according to parent company Maltby Capital. Profit from operations reached $189.5 million, up from $10.9 million; operating cash flow rose 55 percent to $391.5 million; and earnings before interest, taxes, depreciation, and amortization rose 14 percent to $523.3 million. The company showed a net loss of $800 million, down from $2.43 billion comparing to the previous fiscal year. EMI's publishing division reported a 2.1 percent year-over-year rise in revenue to $748 million and revenues from its recorded music division increased 6.5 percent to $18.3 billion. Despite the gains, EMI still faces an outstanding debt of $4.69 billion due for repayment between 2014 and 2017. (8/18)

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