PagesJaunes posts healthy rise in profit

23rd July 2004, Comments 0 comments

PARIS, July 23 (AFP) - PagesJaunes, the newly listed France Telecom a-z listings subsidiary, reported Friday an 8.9-percent rise in first-half profit and maintained its target for revenue growth through 2006.

PARIS, July 23 (AFP) - PagesJaunes, the newly listed France Telecom a-z listings subsidiary, reported Friday an 8.9-percent rise in first-half profit and maintained its target for revenue growth through 2006.

Net profit in the first six months of the year rose 8.9 percent to EUR 88.9 million (USD 108.4 million) from the same period in 2003, the company said.

Operating profit jumped 14.6 percent to EUR 167.4 million from a year earlier.

The company confirmed its target of revenue growth of between 4-6 percent over 2004-2006 and for earnings before interest, tax, depreciation and amortization (EBITDA) of EUR 400 million this year, excluding international operations and subsidiaries, and before the employee profit-sharing programme.

In the first six months of the year, online services in France saw revenues jump 20.9 percent to EUR 122 million, while traditional printed directories posted a more pedestrian 0.4 percent rise to EUR 266.4 million.

The company noted that due to the seasonal nature of the business, results are usually lower in the first half than the second.

Since listing on July 8 on the Paris stock exchange, PagesJaunes is required to publish its financial results. Previously they had been included in the books of Wanadoo, the Internet subsidiary of France Telecom.

Shares in PagesJaunes were effectively flat, up 0.07 percent, at EUR 14.36 in midday trading Friday, in a directionless market.

© AFP

Subject: French news

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