ROME, Oct 22 (Reuters) - Italian publisher L'Espresso posted a 24 percent drop in net profit to 43.3 million euros in the first nine months of 2008 as sales and advertising revenues slowed, it said on Wednesday.
It also warned 2008 results would be lower than last year's results.
'The results for the year will be positive but markedly lower than those of 2007, even after excluding the special items which boosted last year's operations,' the company said in a statement, adding further cost cuts were needed.
Sale revenues over the period stood at 300.7 million euros, down 2.4 percent from the previous year, while advertising revenues came in at 443.5 million, down 4.6 percent.
(Editing by Richard Hubbard) Keywords: ESPRESSO/ tf.TFN-Europe_newsdesk@thomsonreuters.com cmr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
It also warned 2008 results would be lower than last year's results.
'The results for the year will be positive but markedly lower than those of 2007, even after excluding the special items which boosted last year's operations,' the company said in a statement, adding further cost cuts were needed.
Sale revenues over the period stood at 300.7 million euros, down 2.4 percent from the previous year, while advertising revenues came in at 443.5 million, down 4.6 percent.
(Editing by Richard Hubbard) Keywords: ESPRESSO/ tf.TFN-Europe_newsdesk@thomsonreuters.com cmr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
