Despite the rise the publisher, which is behind Red magazine in the UK, offered a cautious outlook on 2003. With reference to the looming war in Iraq, it said that while ad campaigns had not been cancelled some had been delayed.
Gerard de Roquemarel, chairman of Hachette Filipacchi Media, said: "For the last six months we have been pulling out of a crisis which lasted 18 months. The figures for the first quarter of 2003 are up 10%-15% in the US for Hachette Filipacchi Media."
He added: "There was some momentum. But for the rest of this year we have no visibility at all. There have not been cancellations but there are postponements."
Roquemarel suggested that the uncertainty about a war in Iraq was smothering a possible advertising recovery, the first signs of which began towards the end of last year as US television networks reported improved business.
In the US, Hachette publishes Elle and other titles, and has suffered from a two-year slump in advertising spending. Its operating profit may have dipped by some 10% in 2002, according to some analysts' forecasts.
New York-headquartered Hachette publishes 18 titles in the US. As well Elle, Elle Decor and Ellegirl, it is also behind American Photo, Boating, Car and Driver, Car Stereo Review's Mobile Entertainment, Cycle World, Flying, Home, Metropolitan Home, Popular Photography, Premiere, Road & Track, Sound & Vision, Travel Holiday, Woman's Day and Woman's Day special interest publications.
In addition to the magazines, Hachette US's operation includes Hachette Filipacchi Custom Publishing, integrated marketing, database, market research and Hachette Enterprises.
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