EMI performance improves, but future uncertain

Mon Feb 2 2009, 17:39 PM

EMI has narrowed its profit loss and has posted higher year-on-year revenues for the first half of its financial year 2008-2009. The results offer a glimmer of hope for the beleaguered major label. However, EMI says it still expects to post a full-year loss, as the label's widespread cost-cutting measures will not filter down entirely until the next financial year.

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