At a time when the music industry is launching its latest round of filesharing lawsuits, EMI - the world's third-largest record group - said record sales were better than expected.
Here's today's report in the Guardian:
EMI said yesterday that its annual music sales were not as disappointing as the group had forecast two months ago.
February's profits warning statement had predicted an 8% to 9% decline in sales leading to a knock-on £30m reduction in pre-tax profits, down to £138m. Yesterday EMI said sales had in fact declined at about 7.5% for the year to March 31, after stripping out currency fluctuations.
The group... added that profits were expected to be £2m better than forecast in February, at £141m.
