'Twilight' Continues to Drive Profits for Hachette, Lagardere
This week, Lagardere SCA, which owns Hachette Book Group, announced its first-half results for this year. While net sales for the entire company were down 2.2 percent, it noted "very strong growth"—more than 11 percent—in its publishing unit. According to a press release issued by Lagardere, this strong growth was "driven by a surge in net sales in the United States on the back of the Stephenie Meyer phenomenon," referring to the author's best-selling "Twilight" series.
The company also reported that its recurring EBIT (earnings before interest and taxes) before associates increased more than 61 percent to 112 million euros, or about $160.5 million. Lagardere also attributed this profit gain to Meyer's series, "not only in the United States, but also in France, the United Kingdom and Australia."