Italy's RCS MediaGroup swings to profit sending shares higher

Rizzoli Corriere Della Sera Mediagroup SpA

10/11/2021 14:04

Nov 10 (Reuters) - Italy's RCS MediaGroup  RCSM.MI  swung to
a profit in the first nine months of the year, sending its
Milan-listed shares to their highest in more than four months on
Wednesday.
    The Milan-based company which publishes Italian daily
Corriera della Sera reported a net profit of 46.6 million euros
($54 million) in the period compared with a loss of 7.6 million
euros a year ago. Revenue rose 23.6% to 610 million euros. 
    Its shares were up 4.2% at 0.78 euros by 1323 GMT,
outperforming a flat all-share index  .FTITLMS .
    RCS confirmed its medium- to long-term prospects and said in
a statement that it believed it had the "management levers" to
counter the impact of the pandemic this year.
   ($1 = 0.8648 euros)

 (Reporting by Federica Urso; Editing by David Clarke)