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German media giant Axel Springer, owner of the top-selling Bild newspaper, on Thursday said its thriving digital publishing business would again drive profits in 2018, after a strong performance last year.
The publisher posted adjusted net profits of 328 million euros ($406 million) in 2017, up 9.2 percent on the year, powered by robust growth in its classified ads unit and the success of English-language site Business Insider.
Operating - Profit - Percent - Euros - Revenues
Operating, or underlying, profit increased 8.5 percent to 646 million euros, on revenues up 8.3 percent at 3.6 billion.
In a statement, the company said it had "reached all of the group targets" for 2017.
Digital - Offerings - Percent - Revenue - Percent
Digital offerings accounted for 71.5 percent of revenue and 80 percent of the adjusted operating profit, Springer said.
"Axel Springer is documenting a new phase of development—as a digital growth enterprise," said chief executive Mathias Doepfner.
Axel - Springer - Stable - Titles - Digital
Axel Springer's stable of online titles includes the digital...
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