MAGAZINE RACK: French media group Lagardère SA reported third-quarter sales increased 1.4 percent to 1.9 billion euros, or $2.51 billion. On a like-for-like basis, sales declined 1.2 percent.
Net sales at the firm’s multimedia division Lagardère Active were 208 million euros, or $274.3 million, down 3.7 percent compared with the third quarter of 2013. On a like-for-like basis, the branch’s revenues declined 1.6 percent.
Dollar figures are converted from euros at average exchange rates for the period.
France’s largest magazine publisher cited an erosion of its magazine business. Net sales in magazine publishing dipped 3.5 percent in the quarter, with advertising revenues slipping 5.8 percent. Circulation was down 2.7 percent.
Earlier this year, Lagardère sold 10 publications, including French women’s magazine Be and Psychologies magazine. “The deconsolidation of the ten magazine titles highlights better performances on the titles that were retained,” the group stated.
The company maintained its earnings guidance. It trumpeted strong performances in other business activities, including travel retail, international radio and audiovisual production.