Bertelsmann lifts sales, profits in first nine months
German media giant Bertelsmann said Thursday sales and earnings rose in the first nine months thanks to growth in all divisions.
Bertelsmann said in a statement it booked net profit of 274 million euros ($370 million) in the period from January to September, an increase of 5.8 percent over the year-earlier period.
Operating profit, as measured by earnings before interest and tax (EBIT), was stable at 1.032 billion euros, while revenues increased by 2.3 percent to 10.735 billion euros.
The operating profit was negatively impacted by "start-up losses incurred as planned in the building of new businesses," the group explained.
Bertelmann's activities cover television (RTL Group), book publishing (Random House), magazine publishing (Gruner + Jahr), and outsourcing services (Arvato).
Looking ahead, Bertelsmann said remained confident and confirmed its forecast for "moderate growth in group revenues, operating profit slightly below last year's, and a year-on-year increase" in net profit.
© 2011 AFP