Roularta: first-half profit down with print segment.
(CercleFinance.com) - Belgian publisher and broadcaster Roularta reported on Tuesday a fall in profit for the first six months of the year, due to a sharp fall in revenue in the print segment.
Roularta's consolidated first-half sales slipped 7.3% to 132.6 million euros, with earnings before interest, tax, depreciation and amortisation (EBITDA) that was down 55% at 8.8 million euros.
In the print segment, sales fell by 6.4% or 9.7 million euros, mainly stemming from the decline in advertising revenue.
It said that insufficient visibility of advertising revenues in all media makes it difficult to produce a forecast for the full second half.
Roularta added that new activities, such as mobile telecommunications, require additional investment, which is impacting the group's results.
While the group said it was paying constant attention to cost control, its net financial debt rose to 59.2 million euros, compared with 57.4 million euros at end-2016.
Roularta shares are currently down 0.9% at 19.3 euros in Euronext Brussels market, which is currently up 0.4%.
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