First-half profit leap at Bertelsmann

First-half profit leap at Bertelsmann

<p>Media group Bertelsmann has reported a first-half leap in profits for January to June 2010 and raised its forecast for the year.</p><p>Group turnover rose to &euro;7.4bn as against &euro;7.1bn in 2009, with operating earnings before interest and tax (EBIT) rising to &euro;755m (from &euro;497m in 2009). The net profit was &euro;246m, against a<br />loss of &euro;333m in 2009. Return on sales increased from 7% in the first half of 2009 to &pound;10.3%.</p><p>Bertelsmann now forecasts that the group result for the full year will exceed &euro;500m.</p><p>Chairman and c.e.o. Harmut Ostrowski said the operating result was a &quot;record high&quot;. &quot;We are now profiting from having expanded our market leading positions, while also having lastingly improved our cost structure,&quot; he said. </p><p>Bertelsmann company Random House was said to have &quot;significantly increased its first-half 2010 sales and operating EBIT, driven by major increases in revenues and profits from its US division and rapidly rising digital sales.&quot;</p><p> E-book sales at Random House US rose 300% during the six-month period, and &quot;comparably&quot; in Germany and UK, with the UK Group&rsquo;s Nigella Lawson digital cooking app becoming &quot;an immediate global bestseller&quot;. <br /><br /> </p>