NRJ Group H1 opg plunges on French ad spending woes; sees fresh sales drop in Q3 |
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Thu, 30 Aug 2007 18:45
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PARIS (Thomson Financial) - NRJ Group said first-half operating profit plunged 44.5 pct hit by the drop in ad revenues and forecast a fresh drop in sales in the third quarter compared to a year earlier.Operating profit in the period was 27.6 mln eur, down from 49.7 mln a year earlier, hit principally by a drop in advertising by retailers and a 'strong' decline in ad spending in the telecoms sector.Group sales were down 8.9 pct at 187.9 mln eur, with the decline accelerating after a 3.8 pct dip in the first quarter.It said operating earnings also suffered from the cost of multimedia investments and the comparison with a one-off 3.9 mln eur gain in 2006.Net profit was 49.5 mln eur, up from 32.5 mln a year earlier, boosted by a 32.3 mln one-off gain related to CM-CIC's increased stake in the group.Free cashflow was little changed at 133.9 mln eur, compared to 132.0 mln a year ago.tfn.paris@thomson.commrg/jlcCOPYRIGHTCopyright 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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