Bertelsmann: Slight Increase in Revenues and Profits
Bertelsmann, Europe's largest media group, slightly increased revenues and profits in the first nine months of the current financial year 2011. Revenues from continuing operations increased by 2.3 percent to 10.7 billion euros from January to September.
Consolidated profit rose from 357 million euros to 377 million euros, as the company announced on Thursday. The operating result was slightly impacted by expenses for new business and amounted to 1.03 billion euros after 1.04 billion euros in the previous year.
At the end of August, Bertelsmann lowered its expectations for the year in view of the gloomy economic outlook. Accordingly, the operating result is no longer expected to reach the previous year's 1.85 billion euros, but to be slightly lower. The Group has now confirmed this, as well as the outlook for an increase in net income with moderate revenue growth. (SDA)
