On Monday, the Lagardère Group declared a net loss of 171 million euros in the first half of the year, although this was an improvement on the previous year. The reason for this was the health situation and the confinements that have disrupted the companies. However, we learn this Tuesday morning that Lagardère is climbing on the stock market.
“These results are not exceptional and we also expect a very good second half of the year,” said Arnaud Lagardère, head of the Lagardère group, in a conference call on Monday.
Investors welcomed the better-than-expected half-year results thanks in particular to increased demand in the publishing sector and a rebound in the specialist transport distribution business.
Indeed, Hachette (the French publishing group owned by Lagardère) is benefiting from increased demand for literature, with sales up 16% to €1.1bn and operating profit of €110m, “the highest for 10 years”.
Lagardère reported a 5% like-for-like increase in first-half sales to €2.076bn.
Lagardère’s shares, which also operate in the media sector, gained 9.67% to €22.68, by far the biggest rise in the SBF 120. The SBF 120 is a stock market index on the Paris stock exchange.
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