Plus   Neg

Lagardere Q4 Revenue Up 3.3% On LfL Basis;confirms FY Recurring EBIT Growth View

French conglomerate Lagardere (LGDDF.PK) reported that its revenue for the fourth-quarter came in at 1.911 billion euros, up 3.3% like-for-like, while it was down 3.7% on a consolidated basis. The difference between like-for-like and consolidated figures is primarily attributable to the divestment of Press Distribution operations by Lagardère Travel Retail. The foreign exchange effect for the period resulted chiefly from the US dollar and the pound sterling.

On like-for-like basis, Lagardère Publishing revenue was up 2.8%, buoyed mainly by a good performance from Partworks and by the success of best-selling titles in Illustrated Books and General Literature which offset an unfavourable comparison effect in the United Kingdom.

The Group confirmed its recurring EBIT growth target for 2017, as announced last March.
Accordingly, Group recurring EBIT growth in 2017 is expected to be between 5% and 8% versus 2016, at constant exchange rates and excluding the impact from disposals of Distribution activities.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon.com Inc. said it plans to open a new corporate office in Manchester in 2019 and create more than 1,000 highly-skilled jobs in the UK. As part of the ramp up of its UK investment, Amazon will increase the capacity of its Scotland Development Centre and Cambridge Development Centre. The company's 1,000 new staffers will work on research and development in the UK. Ford will launch its new "Built Ford Proud" U.S. advertising campaign this weekend as the automaker grapples with slowing sales and plans to restructure its operations in order to cut costs. The ad campaign will highlight Ford's 115-year history of manufacturing cars and comes as the automaker intends to replace 75 percent of its U.S. lineup by 2020. The Procter & Gamble Company (PG) reported first-quarter core earnings per share of $1.12, an increase of three percent versus the prior year, as benefits from a lower tax rate due to implementation of the U.S. Tax Act was partially offset by a reduction in operating margin, driven largely by negative...
Follow RTT