VNU Sees Downturn in 2001

Global marketing, media and information giant VNU expects its 2001 cash earnings per share to decline by 0% to 5% compared to 2000.

The further deterioration in economic conditions, following the recent terrorist attacks, has reportedly had a strong negative effect on the results of VNU's Business Information Group, which was already under pressure.

Recent developments also have had an adverse effect on advertising volumes at VNU's European trade magazines unit. Additional cost-cutting measures are being taken. The new outlook includes reorganization charges of approximately Euro 10 million.

VNU's other business groups, which account for some 75% of the total activities, are continuing to show a positive development programme, in particular the Marketing and Media Information Group.

All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.