Aug 31 (Reuters) – German media conglomerate Bertelsmann [BERT.UL] raised its outlook for the year after first-half results were boosted by a rebound in European advertising spending and cost cuts implemented last year.
The group, which owns pan-European broadcaster RTL AUDK.LU and publisher Random House, said it expects to see an increase of sales and operating profit this year, compared with its previous outlook for stable figures.
The company also said on Tuesday the 2010 net result would exceed 500 million euros ($636.1 million). Previously, it had targeted a range of 400 million to 500 million euros.
Earnings before interest and taxes (EBIT) were 755 million euros in the first half compared with 497 million a year earlier. Sales were 7.36 billion euros, up 4 percent year-on-year, Bertelsmann said.
The company said group net income was 246 million euros compared with a year-earlier net loss of 333 million.
(Reporting by Nicola Leske)
