Lagardere reported first quarter earnings, with publishing sales of €415 million down €6 million or 1.4 percent (and declining 2.1 percent on a like-for-like basis). The results include a €5 million contribution from the acquisition of Rising Stars in the UK a year ago. (The Perseus acquisition did not close until April 1 and will be reported in the next quarter.) The company reminds investors “that the first quarter traditionally makes a lower contribution to the year as a whole.” After a big rebound in the fourth quarter of 2015, HBG USA sales fell 10.3 percent. The company blamed a “less intensive…release schedule” and “tough […]
