Cuts help EMI boost profits 16% for year

May 2003
Hollywood Reporter -- International Edition;5/27/2003, Vol. 378 Issue 41, p73
Stringent cost cutting allowed EMI Group PLC to increase its bottom line for the fiscal year ending March 31, 2003 even though revenue fell 11.1% because of piracy and competition from other entertainment products, the largest stand-alone music company said Tuesday. In a conference call, EMI chairman Eric Nicoli declined comment on EMI's potential participation in any music industry consolidation.


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