EMAP's pre-tax profits rose 16 per cent to 75 million pounds($125 million) in the first half ended in September, slightly higher than analysts' forecasts of 71.3-74.5 million pounds.

EMAP's results were boosted by strong growth at its UK consumer magazines, business exhibitions and radio operations, though its French magazines were held back by the failed launch of its TV listings title Telemax in the first half.

Chief executive Kevin Hand, who took over as CEO earlier this year, said advertising revenue growth was beginning to slow at EMAP's UK magazines divisions, though glossy titles like Elle and Red andNew Woman were still doing "fantastically well".

"For the rest of this year, I think that things are still going to be pretty good. We don't know yet what 1999 is going to produce, but we think for our (UK) consumer magazines it's going to be much less strong than it has been this year," Hand told Reuters in an interview.

"But for radio, we're still predicting a pretty good year," he added, noting that the French advertising market remained strong and should help offset any slowdown in Britain. EMAP's shares stayed unchanged at 1110P At 1100 GMT, having recovered from a low of 840 in early October as the ad market has proved more buoyant than some analysts initially expected.

Regarding expansion, Hand said EMAP has the capacity to make an acquisition of up to 600 million pounds and plans to spend some 10 million pounds a year on magazine launches. "The US is the biggest market, and we would be keen to try our hand there," he said.

"American publishers have got wind of the success of FHM in thiscountry, and they're on the phone every day saying `Look, try it over here because it would be a big success'," he added.

EMAP has already launched versions of FHM in Singapore, Malaysia, Turkey and Australia. Hand, previously head of EMAP's French operations, said the company will continue to launch titles in the French market, but they won't be on the scale of the failed Telemax start-up.

EMAP's next launch in France will be in the area of men's publishing in about six months, though Hand declined to say whether the title would be a French version of FHM. He added that EMAP also plans to start publishing a new entertainment title in the UK next spring.