Trader Classified sales up, says all options open

Third-quarter revenues rose to 116.4 million euros from 102.6 million in the same quarter last year. Sales grew 5.2 percent on a like-for-like basis, it said in a statement.

Print revenues rose 10.1 percent or 1.8 percent like for like to 100 million euros.

Online revenues grew at a faster pace but made up a smaller slice of total sales, rising 39 percent or 31.4 percent like for like to 16.4 million euros.

"Our primary focus is to accelerate the overall growth through monetizing online volumes," Chief Executive John McCall MacBain said in the statement.

"The company continues its full review of all the strategic options for maximising shareholder value, consistent with its press releases issued earlier this year."

Amsterdam-based Trader Classified, whose shares trade in Paris, said last month it had hired Morgan Stanley to help it conduct a strategic review alongside longtime adviser LongAcre Partners.

MacBain told Reuters Trader Classified was considering selling the whole company, bringing on a partner or taking its Russian or Chinese units public, after it was approached by several large Internet firms.

The company said it had delivered like for like third-quarter growth of some 9 percent in North America, Spain and Latin America, which make up a combined 47 percent of sales.

Russia and CIS countries delivered 14 percent growth.

But France fell over 10 percent and Hungary 6.5 percent.

"We are still facing difficult market conditions in Hungary and France," said Didier Breton, chief operating officer.

"For the second half of the year we plan to achieve organic revenue growth of 6 percent, Internet organic revenue growth above 30 percent together with an EBITDA margin of between 24 and 25 percent."

Trader Classified shares fell 4 percent on Wednesday to close at 13.1 euros. They have risen 28 percent and outperformed Europe's media sector by 24 percent this year.

Source: Reuters