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Article: Axel Springer profits rise.(World News)(Axel Springer Verlag AG)(Financial report)(Brief article)
- Article from:
- Daily Variety
- Article date:
- March 8, 2007
- Author:
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German publishing giant Axel Springer reported a 26% jump in 2006 profits Wednesday to 291 million [euro] ($382 million) and announced it would more than double its dividend to $4.60 per share from $2.23.
Company, which holds a 12% stake in leading commercial broadcaster ProSiebenSat 1, forecast steady to slightly higher earnings for 2007.
Springer CEO Matthias Doepfner said the company plans to push the growth of its Internet business in light of shrinking newspaper readership and that it was looking into a host of new projects that might bring earnings before interest and taxes down below the 2006 level of $447 million.
Even though he remained ...