Lagardère: Q1 sales slump over a third

(CercleFinance.com) - Lagardère has posted Q1 sales of 905 million euros, down 33.
5% (-29.8% on a like-for-like basis), with growth at its publishing division (+11.6%) unable to offset the collapse at its travel retail business (-57.6%).

"As a reminder, in 2020, the health crisis started to impact revenue as from March", Lagardère Travel Retail said, adding that "Its business and geographical diversity is enabling the Group to capture nascent tailwinds".

"For full-year 2021, the environment remains uncertain amid a third wave of the pandemic", Lagardère warns, which is "pressing ahead with its Group-wide cost cutting and cash control efforts".


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