Bertelsmann Posts Profit Gains

GÜTERSLOH: An effective cost-cutting strategy helped Bertelsmann increase its third-quarter profit from 15 million euros to 87 million euros, despite a 4.5-percent decrease in revenues to 3.6 billion euros.

Hartmut Ostrowski, the chairman and CEO of Bertelsmann, noted: “Our third-quarter business performance was gratifying, particularly in the context of the economic crisis, to which Bertelsmann is responding resolutely. We are making good progress with the implementation of our ‘2+5‘ program, as the increase in our result shows. We’re on the right path.”

The “2+5” program was adopted by the Bertelsmann Executive Board early this year with a view to stabilizing existing businesses and preserving liquidity. It has resulted in savings of more than 900 million euros this year.