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Schibsted Q1 Profit Up, Adj. EPS Flat - Quick Facts

Schibsted ASA (SBSNF.PK) reported higher first-quarter pre-tax profit of 310 million Norwegian kronor, versus 289 million Norwegian kronor last year. Profit attributable to owners of the parent advanced to 190 million Norwegian kronor from 159 million Norwegian kronor in the comparable period.

On a per-share basis, quarterly earnings were 1.78 Norwegian kronor, up from the prior-year quarter's 1.52 Norwegian kronor, with an unchanged adjusted earnings per share of 1.41 Norwegian kronor.

Operating revenues for the period increased to 3.60 billion Norwegian kronor from 3.50 billion Norwegian kronor a year earlier. Underlying growth in operating revenues was 5%, corrected for fluctuations in exchange rates and the acquisition and sale of business. Schibsted attributed this growth to a growth of 19% for Online Classifieds and sustained growth in online activities for the media houses in Scandinavia.

Additionally, total investments in the range of 500 million Norwegian kronor, which are charged to EBITDA, are planned in 2012.

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by RTT Staff Writer

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