French media giant Lagardere reported earnings for the three months ending 31 March 2008 on Tuesday. Consolidated revenues for the entire group were down 4 percent to 1.8 billion euros on a reported basis and up 2.1 percent on a like for like basis. The company blamed its flat revenues on the effects of the exchange rate, after seeing a 39 million euro loss following the appreciation of the euro against the dollar and the pound. They also took a 141 million euro loss following their divestment of Virgin stores and the Regional Daily Press business.
But the French group also reported seeing a