logo
Plus   Neg
Share
Email

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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT