Bollore 1st Half Net Profit Nearly Quadruples To EUR165 Million
01 September 2010 - 3:04AM
Dow Jones News
French transport, logistics and media group Bollore SA (BOL.FR)
said Tuesday first-half net profit soared to EUR165 million from
EUR42 million a year earlier, on a substantial rise in the
company's share in the profits of affiliates.
The company, which is controlled by French financier Vincent
Bollore, said its share of profits in affiliates rose to EUR146
million in the first half from EUR34 million a year earlier,
particularly in regard to media services groups Havas SA (HAV.FR)
and Aegis Group PLC (AGS.LN).
Revenue rose 12% to EUR3.29 billion.
Bollore said net profit was also helped by lower interest rates
and a narrower debt. Operating profit rose 35% to EUR114
million.
The company said its portfolio of share investments rose to
EUR1.6 billion by June 30. The companies in the portfolio include
French seamless pipes group Vallourec SA, as well as Havas and
Aegis. Including investments in Italy's Mediobanca Spa (MB.MI) and
Assicurazioni Generali SpA (G.MI), the stock market portfolio total
was valued at EUR1.9 billion, it added, without providing
comparative figures.
-By A.H. Mooradian, Dow Jones Newswires; +33 1 45017 1740;
art.mooradian@dowjones.com
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