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French group Lagardère sales down 12.5% in Q1

RBR Staff Writer Published 11 May 2012

Lagardère Group, a French multination conglomerate and operator of LS Travel Retail, has posted sales of €1,579m in the first quarter (Q1) of 2012, down 12.5% from €1,805m in the same quarter of 2011.

Lagardère Publishing net sales increased 0.9% to €394m from €390m in the first quarter of 2011. The group said e-books continued their strong growth, reaching 9% of sales in Lagardère Publishing at the end of March 2012.

Net sales at Lagardère Active totaled €207m in the reporting quarter, down 50% from €416 in the corresponding quarter of 2011. Lagardère Services net sales increased 1.6% to €877m from €863m in the first quarter of 2011.

The group's Lagardère Unlimited unit's net sales plunged 25% to €101m in the first quarter from €136m, due primarily to a less favourable sporting events calendar effect.

Lagardère Services operates a network of duty-free shops, concept stores and outlets selling press, convenience products and services supported by brands such as Relay and Virgin.