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Media group Ringier announces record results

Switzerland's largest media group, Ringier, says 1999 was a record year, with turnover rising nearly six per cent to SFr947 million and net profit increasing by almost 44 per cent to SFr40.4 million.

Switzerland's largest media group, Ringier, says 1999 was a record year, with turnover rising nearly six per cent to SFr947 million and net profit increasing by almost 44 per cent to SFr40.4 million.

A statement from company headquarters in Zurich said all divisions posted more sales, but the parent company was the heaviest contributor, particularly the magazines, newspapers, Betty Bossi and printing divisions.

Ringier said it made investments of SFr74.6 million last year, with most money being spent on the 50 per cent stake in SAT.1 Switzerland (television) and the acquisition of sports newspapers in Hungary and Romania.

In terms of readership and advertisement sales, the Sunday SonntagsBlick was the country's most successful newspaper, while the daily Blick and the weekly economics newspaper Cash came very close to matching the previous year's results.

The statement said Ringier had established a new media division effective from January 1 in response to the growing importance of the Internet.

Publisher Michael Ringier recently emphasised the importance of the Internet to his publishing group. "The Internet changes publishing's culture, structure, and organisation from the ground up and has opened the door to things we've never done before. Our successful brands and business interests are an ideal starting point and we are devoting all our energy to this great challenge," he said.

swissinfo with agencies

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