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Random profits rise in 2009, but outlook 'uncertain'
01.01.70 | Catherine Neilan
Random House managed to grow profits in 2009, despite facing one "difficult external and internal challenge after another". But c.e.o Markus Dohle warned that the outlook for 2010 remained "uncertain".
In his end of year letter to staff Random House c.e.o Markus Dohle said that despite the worldwide recession, the decline in consumer spending, retail price wars, and wide-ranging digital publishing issues, RH's worldwide operation will be more profitable in 2009 than in 2008, with each international division contributing to the improvement. But he added: "The outlook for 2010 is uncertain right now . . . with no sign that consumer confidence or discretionary spending will pick up."
One positive development alluded to was the rise in e-book sales, which Dohle said had increased by "triple-digit percentages in the US, Canada, the UK, and Germany". "Leading the industry in and gaining market share through digital publishing are the main goals of our digital strategy. If we do it right, there is no question we will greatly benefit from more digital reading by consumers," Dohle wrote.