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May 17 – May 24, 2007 Edition
Up 3% in First Quarter
PARIS/5/10/07–LagardÃ¨re SCA today reported consolidated revenues of 1,908.2m for the three months to March 31, 2007, an increase of 8.9% on a reported basis and 1.2% on a like-for-like basis. Time Warner Book Group (not consolidated in the first quarter of 2006) contributed 83m to the 2007 first-quarter figure. LagardÃ¨re’s publishing division, which includes Hachette Livres (and Hachette Books in the USA), increased 29.2% in year on-year growth to $411.2 million euros ($546 million) in the quarter, but only 3% on a like-for-like basis..
LagardÃ¨re Publishing (formerly the Books division) performance was driven mainly by Spanish operations and Hodder Headline internationally, and by Education and Distribution in France. The jump in publishing was largely due to the consolidation of 83m of sales from Time Warner Book Group, which in 2006 was consolidated only from the second quarter. On a like-for-like basis, revenues to end March 2007 advanced by 3.0%, excluding the Time Warner adjustment.
In France, Education recorded substantial growth, driven by sales of school and distance learning books (Hachette and Hatier). Distribution was boosted by the new contracts (Dunod, Dalloz and Armand Colin).
Literature again showed a slight fall, with strong sales of political books only partially offsetting the high comparative base due to Dan Brown books published by LattÃ¨s.
In Spain, Anaya enjoyed a very good start to the year in General Publishing and Education. In the United Kingdom, Hodder Headline continued its fine 2006 performance across all sectors (General Literature, Children’s Books and Education).
The 2007 outlook for LagardÃ¨re Publishing is good, especially for Education in France and Spain and for Literature in the United States, the report said. For LagardÃ¨re Active, visibility remains very poor in Radio, making long-term forecasts difficult.
For the full year, the company expects growth to be in the 3% to 7% range as previously announced, and based on certain parameters including an euro/dollar exchange rate of 1.30.
The LagardÃ¨re Group is a market leader in the media sector (books, press, audiovisual, distribution of cultural and entertainment products, and sports rights). The Group also has interests in the high technology sector via a 14.98% stake in EADS.LagardÃ¨re shares are listed in Paris on Eurolist by Euron.
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