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VNU reports first-half earnings

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Haarlem, the Netherlands—VNU reported Wednesday that its revenue totaled 1.83 million euros in the first half of 2004, a 5% decline compared with the same period last year. The company’s cash earnings (before goodwill amortization and impairment charges) totaled 215 million euros for the first half, an increase of 7% compared with the same period last year. While VNU’s marketing information group—which includes ACNielsen, and its media measurement and information group, which includes Nielsen Media Research—continued to post revenue increases, VNU Business Information continued to struggle. The business information group saw its revenues decline to 315 million euros in the first half of 2004 compared with 348 million euros in the first half of 2003. In the same time frame, operating income declined to 51 million euros from 60 million euros. VNU said it expects the decline in ad revenue “to bottom out” in the second half of 2004.
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