Arab Today, arab today lagardere share price falls after net loss
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Lagardere share price falls after net loss

Arab Today, arab today

Arab Today, arab today Lagardere share price falls after net loss

Paris - AFP

Shares in French media group Lagardere, which owns many magazines including the titles \"Elle\" and \"Paris Match\", plummeted on Friday after the group posted a net loss of 700 million euros for 2011. The company\'s share price plunged 5.11 percent to 22.53 euros in afternoon trading on Friday on a Paris market which was up 0.15 percent. In 2010, the company, which also own a large stake in Airbus parent EADS, had posted a net profit of 163 million euros. Lagardere had last month announced 900 million euro ($1.18 billion) in provisions to account for the poor performance of sports and pay TV operations in the second half of last year. The group had also written down the value of a 20-percent holding in Canal+ France, a pay television channel channel, which along with Europe 1 is part of its broadcast media activities. Company president Arnaud Lagardere said on Thursday that aside from its sports business, which he called an \"accident\", the company performed well in 2011.

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