MediaBuyerPlanner: Earnings at Lagardere SCA, owner of Hachette Filipacchi, rose 13.5 percent in the first half of 2007 to $288.6 million, while net sales rose 6.7 percent compared to the first six months of 2006.
The company says its 2006 recovery plan – which included the closing of a number of magazines, Elle Girl among them – is paying off, writes MediaPost. Strong performances at established franchises such as its women’s and celebrity magazines also boosted growth.
Other elements of the so-far successful recovery plan included the sale of some of Lagardere’s stock in EADS (the struggling manufacturer of Airbus planes), snapping up U.S. companies focused on digital platforms such as JumpStart Automotive Media, and slicing jobs at its Paris headquarters.
Related stories:
- Hachette Filipacchi Expands Network with Jumpstart Acquisition
- Big Changes at Hachette
- Hachette Slicing Jobs at French Media Division
- Big Changes at Hachette
- Hachette to Relaunch Ellegirl.com
- ‘Elle Girl’ Folds Unexpectedly
