(Reuters) -Italian publisher Mondadori on Tuesday confirmed its full-year profitability guidance raise, citing positive first-half figures and a favourable trend in industrial costs.
Mondadori confirmed a guidance raise already announced in June, which forecast a high single-digit or low double-digit increase in its adjusted core profit this year, with margins expected at between 16%-17%.
That compared with a previous guidance of a single-digit growth and a margin of between 14%-15%.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at 38.2 million euros in the first six months of the year, up 39% from a year earlier, while revenues rose 2.1% to 362.4 million euros.
“The first six months show a general growth in revenues, thanks to the contribution of our core businesses which overperformed our expectations at the beginning of the year”, Mondadori Chief Executive Antonio Porro said in a statement.
(Reporting by Luca Fratangelo, editing Federico Maccioni)
