Lagardère SCA Announces 2011 First-Half Results
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Net sales excluding PMI (i.e., 15 countries, including 13 sold off as of the end of May) came to €482m, down
-4.6% on a reported basis and -3.1% on a like-for-like basis.
This decline is due mainly to:
– the second-quarter slowdown in the ad market (net ad revenue excluding PMI declined slightly during the
first half, by 0.4%);
– magazine circulation, which slipped by 1.6% in France, despite solid performances by Paris Match and
Elle;
– delayed deliveries in the first-half in TV Production activities.
Revenue from Radio in Eastern Europe continued to rise briskly. Theme channel revenues were up slightly.
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