Bertelsmann Posts Q1 Profit

May 8, 2008 World Screen

GÜTERSLOH, May 8:
Bertelsmann posted a 35 million euros profit for the first quarter of 2008,
versus a 70 million euros loss this time last year, on slightly diminished
revenues of 4.2 billion euros.

The company also recorded
a 9.6-percent increase in operating EBIT to 217 million euros. It expects
operating results for 2008 will be on par or slightly above the high levels
seen in 2007, with a profit that is “well above” last year’s.

Thomas Rabe, the company’s
CFO, noted: “We have started the year well in an environment fraught with
economic uncertainty. Bertelsmann confirms its full-year forecast for 2008.”

—By Mansha Daswani