Lagardère Group reports increase in revenues

Nicole Mezzasalma

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Travel-retail operations in Europe and Asia help to boost the company’s profits

The Lagardère Group has posted its figures for the nine months ended September 30 and reported a growth of 7.1% in consolidated revenues to €6.2bn ($9.09bn) on a reported basis. Its retail division Lagardère Services (LS) recorded revenues of €2.7bn ($3.37bn), an increase of 2.3% compared to the same period in 2006.

In a statement the company claimed that LS had a “very good quarter across virtually all activities”, highlighting that travel-retail in Europe and Asia “maintained or accelerated growth”. LS franchises Virgin and Relay also performed well in the interval, according to the report. Retail operator Aelia had “an excellent third quarter, buoyed by the upturn in air traffic and the opening of new sales outlets, especially at Paris Charles de Gaulle airport”.

LS also is “actively pursuing our strategy of transition towards retail activities in Eastern Europe and Asia, where growth rates and margins are higher than wholesale, helped by favourable economic conditions”.