Mondadori posts positive Q1 results

(ANSA) - Milan, July 28 - Arnoldo Mondadori Editore publishing company posted positive first-quarter results Thursday, with consolidated net results of 200,000 euros compared to -12.2 million euros in the same period last year. Revenue was +1.1%. Gross first-quarter results following the acquisitions of Rizzoli Libri book publishers and Banzai Media e-commerce company were -3.8 million, with revenue up 8,6% to 562 million.
    The publishing group forecast a 14% rise in 2016 earnings with adjusted EBITDA up 30%. Also on Thursday, the company announced that Banzai founder Paolo Ainio has joined the Mondadori board of directors. He replaces long-time Silvio Berlusconi adviser Bruno Ermolli.