Lagardere sales down

PARIS, Feb 6 (AFP) – The French group Lagardere said Friday that 2003 sales fell 5.8 percent following a deconsolidation of the Matra Automobile division but that media activities should post strong operating growth.

Sales fell to EUR 12.454 billion (USD 15.640 billion) from EUR 13.216 billion in 2002, the company said in a statement.

Sales for Lagardere’s media division slipped 1.9 percent to EUR 7.944 billion.

But the company said it sees double-digit growth in operating profit in its media activities, and expects only a limited impact from recent dollar weakness on the division’s profitability in 2003, without providing further details.

Hachette Filipacchi Medias, a Lagardere Media subsidiary, is the worlds leading magazine publisher, with 238 titles in 36 countries, including Elle, Paris Match and Car and Driver.

The media division is also pursuing its acquisition of Vivendi Universal Publishing, an operation currently under scrutiny by the European Commission.

© AFP

                                                              Subject: France news