Mecom profit falls 17 percent; to sell 3 units
March 21 (Reuters) - European publishing group Mecom Group Plc reported a 17 percent drop in full-year profit and said it would sell three units, in the Netherlands and Poland.
The company said it would sell its online automotive classifieds business AutoTrack.nl and its remaining Polish operations, Media Regionalne and Radio Gra broadcasting stations, for 30 million euros ($39 million).
Mecom, whose chief executive stepped down in September, has been undertaking a strategic review of its business including potential asset disposals as it struggles with a fall in advertising revenue.
Mecom, which owns more than 250 printed titles and 200 websites, said operating profit fell to 8.9 million euros in the year ended Dec. 31 from 10.7 million a year earlier.
Revenue fell 9 percent to 371 million euros, hurt by a 14 percent fall in advertising revenue.
Shares in Mecom were down 5 percent 85.88 pence on the London Stock Exchange at 0848 GMT.