Earnings: Lagardere Q1 Revenue Flat Overall, Digital Rises Sharply

French media giant Lagardere reported earnings for the three months ending 31 March 2008 on Tuesday. Consolidated revenues for the entire group were down 4 percent to 1.8 billion euros on a reported basis and up 2.1 percent on a like for like basis. The company blamed its flat revenues on the effects of the exchange rate, after seeing a 39 million euro loss following the appreciation of the euro against the dollar and the pound. They also took a 141 million euro loss following their divestment of Virgin stores and the Regional Daily Press business.

But the French group also reported seeing a


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