French media giant Lagardère increased profits at its TV channels, programme production and distribution and magazines division Lagardère Active.
Lagardère Active reported first half recurring operating profit of €52 million, up €16 million year-on-year. Excluding the International Magazine business, recurring operatingprofit totaled €20 million, up €2million. The company said the growth was down in part to the sale of its loss making Virgin 17 DTT channel for €49 million. Recurring EBIT was up 46.4% to €52 million.
Net TV sales were up 2% (excluding Virgin 17) with particularly strong growth coming from advertising revenues for its Gulli channel.