Publisher lands back in black

Bertelsmann AG, the owner of book publisher Random House, said yesterday that its six-month net profit soared dramatically from a year ago - though a higher euro hurt sales at its units.

The privately held company earned 284 million euros in the January-June period, compared with a loss of 51 million euros a year earlier. The company did not break down its second-quarter profit figures.

Sales slipped lower to 7.6 billion euros in the six-month period, compared with 7.7 billion euros a year ago, a reflection of the strong euro which hit a record high of $1.6038 in July, as well as a drop in sales at Random House and its former Direct Group.