Bertelsmann reports revenue and profit rise

Random House parent company Bertelsmann has reported an increase in revenue and profit for the group across the first nine months of 2011, to the end of September.

Group profit for the period was €377m (£321.3m), up from €357m (£304.4m) for the first nine months of 2010.

Group revenues increased by 2.3% to €10.7bn (£9.1bn), from €10.5bn (£8.9bn) for the same period in 2010.

The company said: "Bertelsmann remains confident about the results of the full year and confirms its forecast of moderate growth in group revenues, operating EBIT [earnings before interest and taxes] slightly below last year's, and a year-on-year increase in group profit."