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By Helena Smolak
Shares of Stroeer climbed after the company reported increased third-quarter revenue and earnings across all segments.
At 1511 GMT shares traded 10% higher at EUR50.20.
The German media house said Thursday that its revenue rose to 483.6 million euros ($518 million) compared with EUR436.3 million in the same period last year. On an organic basis, sales grew 7.9%.
Earnings before interest, taxes, depreciation, and amortization grew to EUR147.7 million from EUR130.9 million.
However, Stroeer’s net profit declined to EUR27.2 million from EUR36.9 million as costs rose.
“On the back of the double-digit organic growth in year-end bookings, which exceeds our previous expectations, we are anticipating further growth at the start of the new year,” Co-Chief Executive Christian Schmalzl said.
Write to Helena Smolak at [email protected]
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