Lagardère Active FY Profits Gain 14.4%

PRINT RUN: Despite a slump in magazine sales, French media group Lagardère’s multimedia division Lagardère Active, which includes the weekly magazines Elle and Paris Match, saw a 14.4 percent year-on-year increase in recurring operating profit to 73 million euros, or $97 million, in 2014. “Ongoing cost-cutting plans more than offset the negative impact of the decline in net sales [of] magazines,” the firm stated. Sales for the division declined 3.8 percent to 958 million euros, or $1.27 billion, mainly due to a 6.5 percent drop in magazine sales. The group’s overall net profit for the year came in at 41 million euros, or $54.5 million, compared with 1.31 billion euros, or $1.74 billion, in 2013, when it registered a capital gain on the disposal of aerospace firm EADS. Adjusted to exclude non-recurring items, the firm’s profits grew 7.6 percent year-on-year to 185 million euros, or $245.9 million. Dollar figures are converted at average exchange for the period.

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