Mondadori profit up to 22.5 mn in 2016 (2)

(ANSA) - Milan, March 21 - Italy's biggest publishing group Mondadori posted 22.5 million euros in profits in 2016, up from 6.4 million in 2015, the company said Tuesday. The net financial position is negative to the tune of 263 million euros while estimated profits are set to rise 30% this year, it said. CEO Ernesto Mauri said that, after Rizzoli Libri e Banzai Media, the media group is looking at more purchases. "With this debt we have put ourselves in a position to make further purchases, which are fundamental, indispensable for a group like ours," he said.