Lagardere H1 sales up 6.8 pct; sees H1 recurring EBIT up 3-7 pct UPDATE |
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Published
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Thu, 26 Jul 2007 17:42
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(adds detail on key business areas)PARIS (Thomson Financial) - Media company Lagardere SCA said first half sales were up 6.8 pct from a year earlier, to 3.955 bln eur, aided by the consolidation of Warner Book Group.Like-for-like sales were up 1.2 pct on the year.The company sees first half recurring EBIT before associates up 3-7 pct, excluding Lagardere Sports and assuming an exchange rate of 1.30 usd per euro. This range is in line with its existing full year guidance.Lagardere Active, the magazine and broadcast division, saw a 5.7 pct drop in sales, to 1.094 bln eur, with like-for-like sales down 0.2 pct. Magazines, which account for most of this division's business, posted slight growth but the market remained 'challenging,' while Europe 1 radio sales were down as advertisers cut their budgets.The book publishing business had sales growth of 10.6 pct, to 897 mln eur. Like-for-like growth was 1.7 pct, in line with company expectations.Lagardere Services saw sales rise 1.2 pct from a year earlier, to 1.754 bln eur, with a 1.7 pct rise on a like-for-like basis. It is continuing to shift toward more retail activities where growth and margins are higher than in wholesale.tfn.paris@thomson.commjs/gp/mjs/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Lagardere H1 sales up 6.8 pct; sees H1 recurring EBIT up 3-7 pct 