Lagardère Unlimited sales drop 34 per cent

Recurring ebit at the division dropped from €33 million to €9 million, largely because of the lack of football World Cup qualification matches in the period. The effect was particularly marked at WSG. The Sportfive contribution improved slightly, helped by the non-recurrence of over €10 million of bad debt provisions included in the first half of 2009. The drop was also partly due to the fact that there was no World Handball Championship this year. Sportfive held the rights to the last championship, which took place in 2009.

Net sales in Asia accounted for only 18 per cent of the total, compared to 31 per cent last year. Net sales in Germany and France accounted for the same percentage as in 2009 – 15 per cent and nine per cent respectively. UK sales accounted for five per cent (four per cent in 2009), the rest of Europe 29 per cent (24 per cent) and elsewhere 24 per cent (15 per cent).

Lagardère said that the first-half figures did not affect its full-year targets and that it expected strong growth in the second half of the year, boosted by the beginning of Euro 2012 qualifying matches.