Financial Times FT.com

Pruning luxuries puts EMI’s fortunes on track

By Ben Fenton, Chief Media Correspondent

Published: July 15 2008 01:51 | Last updated: July 15 2008 01:51

Less fruit and fewer flowers contributed to an upturn in EMI’s financial fortunes, as described in an internal e-mail from Guy Hands, executive chairman, to his staff on Monday.

Acknowledging that it was only a single quarter’s sales, Mr Hands said revenue from the recorded music division rose 61 per cent to £288.1m ($574.8m) in the three months to the end of June.

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