France’s Lagardere said it will take a writedown of €900m on the value of its problem-plagued sports business and its stake in pay-TV unit Canal+ as it reported stagnant revenue for 2011. The media-to-aerospace conglomerate reported full-year revenue of €7.66bn in line with analysts estimates yesterday and confirmed its forecast of core media operating profit declining 5-12 per cent in 2011. The results cap a tumultuous year for Lagardere in which it scaled back profit goals twice.
Lagardere in €900m writedown
Wednesday 8th February 2012, 2:09am
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