French media and aerospace group Lagardere has reported a 13.9% decrease in profits during the 1999 financial year to $235m (FFr1.58bn), compared to $268m (FFr1.8bn) in 1998. However revenue was up 14.9% over the same period to $12bn (FFr80.5bn), from $11.8bn (FFr79.1bn) in 1998, with the growth mostly attributed to media operations.
Earnings from Lagardere Medias (books, press and distribution, multimedia services, television and radio operations) jumped 20% in 1999 on a 16% turnover increase. Digital television and multimedia were the company's strongest divisions.
Lagardere recently bought into Canal Plus' digital satellite operation CanalSatellite and formed a joint venture to launch new cable and satellite channels with the French pay-TV operator. The first channel, themed around health, will be launched in April.
The company, which now owns 6% of Deutsche Telekom-owned ISP T-Online, has also indicated it may regroup some of its Internet activities, which could then be opened up to investors.