FRANKFURT: The German media group Bertelsmann, which owns the broadcaster RTL, said Wednesday that it had made a net profit of 269 million euros ($388 million) in the first half of the year.
That represented a gain of 9.3 percent from the same period in 2010, and was helped by lower interest payments on Bertelsmann's reduced debt load of two billion euros at the end of June, a statement said.
Bertelsmann sales were 1.9 percent higher on the year at 7.2 billion euros, it added, with strong contributions from advertising by the RTL Group and publishing company Gruner+Jahr.
The parent company's operating profit slipped however by 2.0 percent to 737 million euros.
"We are cautiously optimistic for the second half, even though economic uncertainty has increased," finance director Thomas Rabe was quoted as saying.
For the full year, Bertelsmann still expects a moderate increase in sales and a net profit that surpasses the 2010 level of 478 million euros.
Operating profit is forecast to decline however owing to the costs of new products and higher energy prices.
Bertelsmann is not listed on the stock market, and is considered to be the fourth biggest media group worldwide.
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