Analysts turned off by EMI profit warning.

Investors Chronicle, February, 2005

EMI hit the wrong note with City analysts this week as it warned that profits would be below forecasts. Two major albums - by pop bands Gorillaz and Coldplay - will be released later than expected. And, more worryingly, sales of existing records are also lower than forecast. Only the publishing division is trading as expected, on the back of growing revenues from films and adverts.

EMI's prospects are bleak and, despite assurances to the contrary, the global music industry still seems weak. Sell.