Bertelsmann one of the world's largest media companies has seen its profits rise significantly during the 1st half of 2004. Operating profit before interest and tax was 596m Euros (721m Dollars; 406m Pounds) in the 6 months through to the end of June, in the previous year this was 186m euros.
The music and television division were the main areas that helped Bertelsmann achieve this substantial rise, with the recovery in the music industry sales from artists such as Britney spears and Dido helped Bertelsmann achieve this profit rise. Bertelsmann also noted that the cost from the merging of Bertelsmann music division and Sony's music division may dent earnings in the short term it is expected the benefits of the merger will boost profits.
| Bertelsmann, the world's fourth-largest media company, The music and television businesses were the main drivers of growth, recovering from last year's slowdown. Hits from artists including Dido, Usher and Britney Spears lifted sales, while Spain saw strong advertising growth. Earlier this year, Bertelsmann merged its music unit with that of Sony, creating Sony BMG. While costs from the merger may dent earnings in the short-term, the company said it expects the benefits to boost profits going forward. |
Full story over at The BBC. So much for loosing money to piracy looks like they are doing pretty well to me.
Source: BBC
