Music group EMI said today profits pushed higher after a restructuring and an upturn in the key US market.
However, global sales tumbled 11 per cent as the music company grappled with a biting industry slump.
EMI, whose roster ranges from Pink Floyd to Radiohead, said its adjusted pre-tax profit rose to £177.3 million sterling ($290.2 million) in the year to end March from a previous £153.3 million.
The world's third-biggest music company said sales fell to £2.175 billion, dragged lower by a 12.6 per cent fall in recorded music which makes up most of the business.
The $32 billion music industry has suffered from a lethal mix of rampant piracy, weak economies and competition from rival entertainment such as video games, forcing music companies to slash costs and re-assess their business models.
EMI began a major overhaul last year, cutting 1,900 jobs and 400 acts to better cope with the slump in sales. The music company said it had subsequently more than doubled its recorded music margins to 8.5 per cent from 4.1 per cent.
In the historically problematic North American market, EMI said it had seen a turnaround after five years of losses, with margins improving by more than 12 percentage points.