Frankfurt - German media giant Bertelsmann said on Thursday it was projecting an increase of more than 20 percent in full-year profits after a “positive” business performance in the first nine months.
“We recorded a positive business performance for the first nine months of fiscal 2013. All key earnings figures improved,” Bertelsmann said in a statement.
Revenues advanced slightly to 11.45 billion euros ($15.3 billion) in the period from January to September, operating profit was up 2.8 percent at 1.47 billion euros and net profit jumped by 19 percent to 622 million euros, already surpassing last year's full-year figure.
“This performance makes us optimistic about the remainder of the financial year. We expect group profit for the full year 2013 to increase by more than 20 percent, and as announced earlier, continued growth in revenues,” said chief executive Thomas Rabe.
Sapa-AFP