LONDON (Reuters) - EMI Group , the world's third-largest music company, said on Monday it expected a 3 percent decline in first-half revenue, citing an album release schedule weighted towards the second half.
First-half underlying profit before tax is expected to fall 34 percent to about 27 million pounds. Full-year results are on track to meet expectations, EMI said.
The London-based company, home to artists such as Coldplay and Robbie Williams, said its recorded music division was on track for a 4 percent decline in revenue in the six months ended September 30 on a constant currency basis.
Digital music represented about 9 percent of its recorded music division's revenue, compared with 11 percent for the global music industry.
EMI, which ended takeover talks with rival Warner Music Group earlier this year, said its music publishing unit revenue would be in line with last year's first half.
The company said the year-on-year decline was due to its planned release schedule, which is expected to be stronger in the second half than in previous years, with albums from Norah Jones, Moby and Depeche Mode.
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