July 31, 2014 / 4:15 PM / 4 years ago

Lagardere keeps 2014 operating profit target

PARIS, July 31 (Reuters) - French media group Lagardere reiterated its full-year target for flat to 5 percent higher recurring media operating profit on Thursday despite a first-half drop due to what it called an expected decline at its publishing unit.

Recurring earnings before interest and tax at its media business fell to 128 million euros from 138 million as the publishing contribution fell 20 million to 51 million due to an “exceptionally rich” period for best-sellers a year ago, Lagardere said.

First-half sales fell 1.2 percent, but revenue rose 3.3 percent in the second quarter to 1.838 billion euros ($1.12 billion), Lagardere said in a statement. (1 US dollar = 0.7469 euro) (Reporting by James Regan; Editing by Mark John)

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