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Friday, October 29, 2004
Seems Reader's Digest International has done some good job expanding to Romania and other East European Countries. Here is why:
In the first quarter, RDI revenues were $215 million, versus $216 million in the year-ago period. Operating profits improved to $1 million, despite an estimated $(2) million in incremental promotion expense timing, versus a loss of $(1) million in last year's quarter. Excluding the effects of foreign currency translation, revenues declined by 8 percent. Profits improved in most international markets, led by gains in the larger markets-Germany, Australia, the United Kingdom, France and Poland. Most markets benefited from lower operating costs and improved marketing execution. These improvements were partially offset by further investment in new initiatives launched last year including new market launches in Romania, Croatia, Slovenia and Ukraine, which are all performing ahead of internal expectations. The company also invested in tests of a Reiman-style magazine in Brazil and a new "English as a Second Language" product in several markets.
Read full press release here.
Posted by Mihai Botea : 10/29/2004 11:17:00 am
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