EMI Group said today (April 15) that its annual underlying profit would be slightly better than anticipated due in part to improved prospects for its recorded music division.

EMI Group said today (April 15) that its annual underlying profit would be slightly better than anticipated due in part to improved prospects for its recorded music division.

The group expects to report profit before tax, amortisation and exceptional items of approximately £141 million ($265 million) for the year ended March 31; it previously expected £138 million ($259 million). EMI now expects its recorded music division to register a constant-currency sales decline of approximately 7.5%, vs. the previously anticipated 8%-9%.

In a Feb. 7 forecast, EMI warned that releases from Coldplay and Gorillaz would be pushed from that financial year to the first half of the next period, triggering a stock slump. Coldplay's third studio set, "X&Y," has since been scheduled for release June 6, and Gorillaz's sophomore album, "Demon Days," is due May 23.

EMI stock was down slightly at 246.5p in morning trading today.

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