Bertelsmann posts 2009 loss, sees better 2010

Published Mar 23, 2010

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German media group Bertelsmann AG reported Tuesday an 87-per-cent fall in earnings last year as the global recession hit advertising revenue.

The German-based group, which owns publisher Random House and the broadcaster RTL, said net profit fell to 35 million euros (R345 million) last year from 270 million euros in 2008. Group sales fell 5.4 per cent to 15.4 billion euros.

The company said its net loss after minorities last year came in at 82 million euros.

However, Bertelsmann expects to post a net profit before minorities of between 400-500 million euros this year. - Sapa-dpa

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