August 29, 2013 / 3:51 PM / 4 years ago

Lagardere sticks to earnings forecast

PARIS, Aug 29 (Reuters) - French media group Lagardere posted a 23 percent rise in first-half operating profit at its media business on Thursday and stuck to its full-year earnings growth target.

Recurring media earnings before interest and tax (EBIT) reached 138 million euros. Lagardere added that first-half sales were stable on a like-for-like basis at 3.406 billion euros ($4.50 billion).

The group said it still expected 2013 recurring media EBIT to grow between 0 and 5 percent versus 2012 at constant exchange rates. The guidance is based on advertising revenue falling about 7 percent at magazine and radio division Lagardere Active. ($1 = 0.7562 euros) (Reporting by James Regan; Editing by Astrid Wendlandt)

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