PRH reports 'solid' sales as Bertelsmann revenues fall 8.9%

PRH reports 'solid' sales as Bertelsmann revenues fall 8.9%

Global revenues at Penguin Random House fell slightly by 1.4% year on year in a "solid" six months to 30th June despite the impact of Covid-19, while parent company Bertelsmann saw group revenues tumble 8.9%.

In its half-year report, Bertelsmann said PRH's sales were down to €1.63bn from €1.65bn in the same period of 2019. Operating earnings before interest, tax and amortisation (EBITDA) declined by 8% to €209m from €227m. UK results were not broken out.

The results are the first to be published Bertelsmann acquired full ownership of PRH, buying out Pearson's stake in April.

In its repor...

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