Press releases and newsletter
AFP 2012: VIDEO AND SPORT REMAIN PRIORITIES
The board then reviewed the budget outlook for the full year and the proposed budget for 2012. In line with end-June estimates, the board estimated full-year 2011 sales at 280 million euros, ahead of budget, an operating profit at 16.2 million euros, up 1.2 million euros and a net profit of 1.8 million euros.
The board approved the 2012 budget, which follows on the lines of the strategic plan adopted November 19, 2010. It will allow for the development of the video service, boost multi-media, increase Arabic-language output, fund our Brazil plans and strengthen AFP's presence in social networks. The budget also covers investment in IRIS, the updated editorial system which will improve delivery to clients, fund the continued headquarters refurbishment work began earlier this year, along with new equipment for the video and photo services.
The 2012 budget forecasts sales at 285 million euros, up 2.0 percent, with an operating profit of 15 million euros and break-even at the net profit level. Sales at the video service are expected to rise 40 percent, Internet 20 percent with a gain of 7.0 percent in Arabic and Portuguese language income.
Costs remain under control, with a rise of 2.0 percent estimated.
Given a difficult economic backdrop, and problems in the press industry in particular, the 2012 budget allows AFP to develop our international sales, preserve our market share in France, increase our commercial offerings and to continue to invest in the resources needed for AFP to produce a multi-media product and refurbish our headquarters.
PDG Emmanuel Hoog presented the meeting with an initial report on the implementation of AFP's strategic plans, approved in November, which showed significant progress, especially in video, and the development of Portuguese language products for the Brazil market, whose sales are estimated at 1.8 million euros in 2012.
Sports remains a priority, with development of offers for mobile devices. Sports service sales are expected to jump 34 percent in 2012, driven by the London Olympic Games and the European football championships…