FRANKFURT--German media group Bertelsmann said after-tax profit
rose in the first quarter of the year, boosted by acquisitions and
restructuring.
Profit jumped 35% to 143 million euros ($162.3 million) from
EUR106 million in the year-earlier period. Revenue rose slightly,
to EUR3.92 billion from EUR3.90 billion a year ago, despite
divestments.
"Based on our high level of profitability we can continue to
drive the Group's transformation forward -- including by expanding
our education business, where we made significant progress in the
first quarter," Chief Executive Thomas Rabe said.
Bertelsmann acquired Alliant International University in
February and increased its stake in service group Synergis
Education in March. Over the long term, education is to become the
company's third pillar, in addition to media content and
services.
Bertelsmann has said it is aiming for annual revenue of EUR20
billion within five years. In 2014, revenue was up 3.1% at EUR16.7
billion.
email: nikki.houston@wsj.com
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