LZ Medien: Higher dividend despite drop in profits
The Lucerne-based LZ Media Group's consolidated net income fell by 11.7 percent last year to 10.6 million Swiss francs. Nevertheless, shareholders will receive a higher dividend:
Tuesday's Annual General Meeting in Zug approved an increase of CHF 5 to CHF 105. LZ Group's sales fell to 165.1 (166.4) million francs in 2011. Operating profit (Ebit) was 13.6 (15.6) million francs and net profit 10.6 (12.0) million francs. According to the media release, the decline in sales is mainly the result of lower printing revenues. At 52.4 million Swiss francs, advertising revenues were 4.2 percent higher than the previous year; the increase is due to the acquisition of Anzeiger Luzern. A decline to 41.1 (42.0) million Swiss francs was recorded in subscription and single-unit sales. Sales in the print and calendar business segment fell to CHF 46.8 (50.2) million. By contrast, revenues from electronic media and other revenues rose to 24.8 (23.9) million Swiss francs.
At the end of 2011, the LZ Group employed 555 (562) people, who shared 476 (485) jobs. The LZ Group includes, among others, the Neue Luzerner Zeitung with its regional editions, Radio Pilatus and the local TV station Tele 1. (SDA)
