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Bertelsmann 9-month earnings soar on ad recovery
November 11, 2010 / 7:15 AM / 7 years ago

Bertelsmann 9-month earnings soar on ad recovery

FRANKFURT, Nov 11 (Reuters) - German media group Bertelsmann [BERT.UL] nine-month operating profit more than doubled thanks to an overall economic upturn combined with a recovery in advertising markets.

Earnings before interest and taxes were 1.02 billion euros ($1.4 billion) in the first nine months of the year versus 424 million a year earlier, the company said in a statement on Thursday.

Sales rose 3.5 percent to 11 billion euros.

The group, which owns broadcaster RTL Group AUDK.LU and publishers Random House and Gruner+Jahr, reiterated its 2010 outlook of an increase in sales and operating profit.

It expects to achieve a group result of more than 500 million euros.

Reporting by Nicola Leske

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