Italian newspaper publisher Class Editori has reported a 34% increase in advertising revenue in its first quarter financial results. However, despite the growth, this shows that the market has deteriorated in March as growth in the first two months of the year was 45%.
The outlook for Q2 has become poorer, according to analysts at ABN Amro, who expect full year revenue for the group to be 21% up at €154 million; the previous growth estimate stood at 35%.
Class Editori is trading at premium to the publishers in its European peer group, including EMAP, Pearson, VNU and Lagardere.
