HBG Sales Rose 2.7% in 2017
Sales at the Hachette Book Group rose 2.7% last year, parent company Lagardere reported. The increase was attributed in part to contributions from Perseus (where You Are a Badass sold over 648,000 print copies) and its Nashville-based imprints (where The Shack had strong sales). HBG also benefited from a full year ownership of Perseus, which it acquired at the end of March in 2016. Earlier this year. Lagardere reported that total revenue in the publishing group was €2.29 billion, up 1.1% over 2016. In its release Thursday, the company said EBIT (earnings before interest and taxes) rose 1.0%, to €210 million. Similar to the sales gain, Lagardere said the profit improvement was "mainly attributable to a strong performance in the United States," driven by "successful releases" as well as continued profitability gains from the consolidation of Perseus. Click Read More below for additional information.