PARIS (dpa-AFX) - The Lagardère group reported 5% growth in like-for-like revenue for first-quarter 2018, fuelled by organic growth momentum at Lagardère Travel Retail and a good performance from Lagardère Publishing. This growth performance was achieved while working actively towards the Group's strategic redeployment. The company confirmed its recurring EBIT target for 2018.
Group revenue was 1.555 billion euros for the quarter compared to 1.533 billion euros in first-quarter 2017, representing a rise of 5.0% like-for-like and of 1.5% on a consolidated basis.
The difference between consolidated and like-for-like revenue reflects a negative foreign exchange effect of 63 million euros, primarily attributable to the depreciation of the US dollar.
Revenue for Lagardère Publishing division totalled 442 million euros, up 2.9% like-for-like or up 0.5% on a consolidated basis.
Revenue for Lagardère Travel Retail division totalled 802 million euros, up 11.0% like-for-like or up 5.2% on a consolidated basis.
Revenue for Lagardère Active division totalled 208 million euros, down 0.9% like-for-like or up 0.9% on a consolidated basis.
For 2018, Group recurring EBIT is expected to remain stable versus 2017, at constant exchange rates.
Copyright RTT News/dpa-AFX