Bertelsmann reports revenue, profit rise

Bertelsmann reports revenue, profit rise

Random House parent company Bertelsmann has reported an increase in revenues in its first quarter results, as well as an increase of group profit of more than €50m (£40.2m).

Group profit was up to €147m from €94m in the first three months of 2012, with operating earnings before interest and tax [EBIT] rising to €280m from €248m. Meanwhile, consolidated revenues were up to €3.64bn from €3.46bn for the same period in 2011. Return on sales was reported as 7.7%, up from 7.2%.

Bertelsmann c.e.o. and chairman Thomas Rabe said: "Bertelsmann started the new year on a high note. All of our divisions including corporate investments are seeing growth, and our earnings performance is also very gratifying. This underscores the good starting position that Bertelsmann has established for its planned long-term reshaping into a faster-growing, more digital and more international company."

He added: "Looking at the full year, we are confident of achieving our target of moderate revenue growth, stable operating EBIT at a high level, and increased group profit."