Business News
Media firm Axel Springer sees sales, profits up in first half 2011
Aug 3, 2011, 9:57 GMT
Berlin - Sales were up 11.8 per cent for the first half of 2011, as compared to the same period in 2010, reported German media firm Axel Springer Wednesday.
Those sales translated into profits - before interest and taxes - rising 10.5 per cent, to 288.7 million euros (414 million dollars), from 261.2 million in the same time period of 2010.
The company attributed growth to its digital and international media arms, which more than offset some shrinkage in domestic print media sales. Digital media was responsible for 38.8 per cent of the company's profits, while international media contributed 44 per cent.
The company's board said it continued to expect low single-digit revenue growth in 2011, with low double-digit profit growth.
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