TV production boosted the top line performance of Lagardère Active, the French media group’s magazine and TV arm, in the first quarter, contributing to a 2.8% like-for-like increase in revenues to €204 million.
TV production revenues rose by 82% year-on-year for the quarter , thanks to an exceptionally weak performance in 2014 and the positive impact this year of phasing of delivery of programmes.
Lagardère Active’s top line was pulled down by a dip in magazine revenues, dragged 5.1% lower by distribution problems and lower advertising revenue, which stronger digital sales failed to offset.
Lagardère Active’s gross sales rose by 1.1%, with the gap between that figure and the like-for-like number attributable to the impact of the sale of 10 magazine titles in July last year, partially offset by the integration of channel Gulli.
Overall, Lagardère posted revenues of €1.572 billion for the quarter, up 6% on a like-for-like basis.
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