Lagardere : Q3 revenues slightly higher than expected despite a fall in publishing as expected
>Revenues slightly higher than forecast - Lagardère this morning reported Q3 2017 revenues that were slightly higher than forecast at €1,895m whereas we looked for € 1,848m. As anticipated, publishing struggled (-6.3% organic growth), affected by weak revenues in education, while at the same time travel retail posted another good performance (+9.8% organic). Note the moderate decline in sport and the return to growth for Lagardère Active thanks to radio and TV product...Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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