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Mecom Group third-quarter core profit falls 12 pct

Reuters - UK Focus

Oct 23 (Reuters) - European publishing company Mecom Group (LSE: MEC.L - news) Plc reported a 12 percent fall in third-quarter core profit, hurt by a decline in advertising revenue in Denmark and the Netherlands, its largest markets.

The company, which said in June that it had reached an agreement to sell itself to Belgium-based media group De Persgroep NV for 196 million pounds, said earnings before interest, taxes, depreciation and amortization (EBITDA) fell 2.4 million euros to 17.6 million euros ($22.3 million) in the quarter ended Sept. 30.

Advertising revenue fell 16 percent in the period. ($1 = 0.7907 euro) (Reporting by Noor Zainab Hussain and Aastha Agnihotri in Bangalore; Editing by Gopakumar Warrier)