Last year wasn't kind to UK entertainment conglomerate EMI Group PLC
. On February 5, the company issued its second profit warning since September, blaming a slow market for recorded music. EMI is now predicting that pretax profits for the year ending March 31 will total $213.4 million (245.1 million euros, or £150 million), far below analysts' predictions. The news caused an immediate 6.4% drop in the price of EMI shares on the London market.