Gary Hughes, Emap's group finance director, has spent the past eight hours briefing analysts, investors and the media, but he is not about to let that stem his enthusiasm. Emap has just delivered above-expectations interim results and Hughes is on a roll.

"We tend to gush," admits Hughes, who describes his and Tom Moloney, Emap's chief operating officer's, presenting style as "a bit like two steam trains coming at you".