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CORRECTED - Bertelsmann H1 EBIT jumps, weak dollar hits sales

Thu Aug 28, 2008 3:44am EDT

(Corrects 2008 revenue forecast in fourth paragraph to above previous year, not flat)

BERLIN, Aug 28 (Reuters) - Bertelsmann [BERT.UL], Europe's largest media group, posted a jump in operating profit and a slight sales decline in the first half of 2008 due to weakness in the U.S. dollar and the economic slowdown.

Earnings before interest and taxes were 637 million euros ($942.1 million) compared with 472 million euros in the previous year, when EBIT had been impacted by a number of one-time effects, the company said in a statement on Thursday.

Sales were down 1.6 percent at 7.6 billion euros.

Bertelsmann said it expects to see 2008 revenue above the 2007 level, on a slightly lower EBIT due to cloudy economic prospects, and a net income that will clearly surpass the 2007 level.

Previously, Bertelsmann had forecast moderate revenue growth for 2008 and net income to at least double compared with 2007.

(Reporting by Nicola Leske)



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