Cost reductions Aftenposten

Schibsted ASA (SCH) , Published 26/10/2001 10:44:22

For the time being the advertising revenues in Aftenposten, are significantly lower than last year. This was previously announced in a profit warning the 11 October 2001. As a part of the productivity and profitability program in the Schibsted Group, Aftenposten has started at profitability program, but it is necessary to start additional cost reduction activities as a consequence of the weak advertising revenues. The program is in progress, and it can not be ruled out that this will result in profitability improvement of approx. NOK 200 million over the next couple of years.