Estimated read time: 1-2 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
PARIS (AFX) - Lagardere ScA reiterated full-year guidance after sales at its core media division rose 1.6 pct in the first half.
Lagardere Media revenues came in at 3.792 bln eur, up 1.6 pct on a reported basis and 1.0 pct on a like-for-like basis.
This was a little ahead of the 3.752 bln eur expected by Natexis analysts.
The renewed full-year guidance is for 3-7 pct like-for-like growth in recurring EBIT before associates from Media activities.
This is based on a euro/dollar exchange rate of 1.2, excludes changes in group structure and the impact of investment in digital terrestrial television licenses.
The EADS contribution was 2.82 bln eur, up 16.8 pct from 2.42 bln a year earlier, bringing group sales to 6.615 bln, up 7.5 pct from 6,15 bln.
Media revenues were boosted by the first-time consolidation of Time Warner Book Group.
By activity, in the second quarter, books had a "good quarter" with a better performance from literature in France but press sales fell due to lower circulation of magazines for men in France.
Distribution sales were slightly lower than in the first quarter, due mainly to a slowdown in sales of dailies and magazines. paris@afxnews.com mrg/jsa/mrg/joy COPYRIGHT Copyright AFX News Limited 2005. 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. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
Copyright 2006 AFX News Limited. All Rights Reserved.
