Lagardère increases profit in broadcast division

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.