The UK media firm Emap, whose publications include Heat and FHM magazines, has said its interim profits are set to rise despite tough conditions in the advertising market.

The group, which also owns the Magic and Kiss radio networks, predicted its underlying revenues would grow by 2% in the six months to the end of September.

But Emap said that despite its "relatively strong performance over the past six months, Emap continues to take a cautious view of the wider advertising marketplace".

The group generates around 45% of its revenue from advertising.

Emap operates in the UK and France, and also runs business trade exhibitions.

Spreading the risk

The advertising industry as a whole has suffered over the past couple of years as the economic slowdown has led companies to cut back the amount they spend on marketing.

But Emap said its "broad revenue mix" was helping it to sustain profits.

Its consumer magazine sales continued to perform well with underlying circulation revenues up by 7%.

Emap said the performance was underpinned by strong sales of celebrity magazine Heat, but added that sales had also grown at New Woman, Red, Angling Times, Kerrang! and Match.

The company's six digital music channels - which include The Box, Q and Smash Hits - also performed well, with revenues up 200% over the same period last year.

But the group said the radio market had been more "challenging" with sales were down 7%, and added that "at this stage there are few signs of any material change in national airtime sales".

In France, revenues at its consumer magazines were down 1% in newsstand sales in what Emap described as a "very difficult trading environment", but subscription revenues were up 4%.

Overall the company said it expected its interim profits before one-off items to be "well ahead" of last year's figure.

On the stock market, Emap shares closed up one penny at 647p.