Bertelsmann to 'Reshape' in Next Decade

Random House Group UK CEO Gail Rebuck has emphasised the importance of "building direct relationships with readers", as parent company Bertelsmann vowed to "reshape" the group over the next five to 10 years. In audited results covering 2011, Bertelsmann confirmed, saying that for Random House worldwide, revenue was down 4.3% year on year to 1.7bn, with operating Earnings Before Interest and Taxes (EBIT) rising to 185m from 173m the previous year. The return on sales was 10.6%, up on 9.5% in 2010. It also reported the company had recorded "record triple-digital-percentage" digital revenue growth.