Bertelsmann "satisfied" after nine-month growth

Random House parent-company Bertelsmann has reported a year-on-year increase in revenues and group profits after the first nine months of the 2012 fiscal year, with chairman and c.e.o. Thomas Rabe anticipating "moderate revenue growth" for the full year.

Group revenues from continuing operations were up by 5.7% to €11.4bn (£9.1bn) for the nine months to 30th September 2012, compared to €10.8bn (£8.6bn) in 2011. Operating earnings before interest (EBIT) increased by 5.8% to €1,095m (£873.9m), from €1,035m (£825m) in 2011. Group profit increased "significantly" to €528m (£421m) during the period, from €377m (£300.8m) in 2011. Organic growth, adjusted for portfolio and currency fluctuations, was 4%, with return on sales level with this point last year at 9.6%.

Rabe said: "We are satisfied with our business performance during the first nine months of the year. Bertelsmann is growing organically, profitability remains high, and we are making good progress on reshaping the group. We continue to expect moderate revenue growth and a continued high operating EBIT for the full year.

"Group profit will be impacted in particular by special items from the print business and several direct-to-consumer businesses as well as from our operations in southern Europe. Also, the subdued economic outlook and the Euro crisis make it difficult to predict our future performance at this point."