The difference between reported and like-for-like growth is accounted for by the €33m impact of the full consolidation of the World Sport Group agency’s revenues at the start of the year. Lagardere acquired a 70-per-cent stake in WSG in the middle of last year.
Revenues were also driven by the timing of sporting events, especially the World Handball Cup and qualifiers for the 2010 Football World Cup, although the lack of an African Cup of Nations tournament this year had a negative effect.
Overall, the Lagaredere group reported first-quarter revenues of €1.78bn, a two-per-cent fall on a reported basis and a 2.6-per-cent drop on a like-for-like basis.