March 7, 2013 / 4:51 PM / 4 years ago

Lagardere sees profit flat to 5 pct higher in 2013

PARIS, March 7 (Reuters) - Lagardere forecast that recurring operating income this year would range from flat year-on-year to 5 percent higher after declines at its magazines and radio division and sports rights business sent 2012 profit 13.5 percent lower.

The group said the forecast was based on a drop of around 5 percent in advertising sales at its Lagardere Active magazines and radio division, which is the company's division most sensitive to the advertising cycle.

Recurring operating profit from media activities fell to 358 million euros ($465.40 million) last year from 414 million in 2011, Lagardere said in a statement on Thursday. ($1 = 0.7692 euros) (Reporting by James Regan; Editing by Astrid Wendlandt)

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