Reader's Digest Announced Expansion to Bulgaria

Business | January 27, 2006, Friday // 00:00| Views: | Comments: 0

Reader's Digest Association Inc., publisher of one of the most widely circulated general interest magazines, officially declared its expansion to Bulgaria and three other countries.

Reader's Digest revealed that it has started businesses in four new countries - Lithuania, United Arab Emirates, Bulgaria and Kazakhstan. That brings to 10 the number of new country launches in the last two years. Four Eastern European nations where Reader's Digest started new business in the past year are doing better than expected.

Bulgarian media reports that the first book Reader's Digest will offer to the Bulgarian readers will be Discovering the Wonders of Our World. It is expected to be published in February.

On Thursday Reader's Digest Association Inc. reported a second-quarter loss.

The company had a net loss of USD 122.4 M, on revenue of USD 765.2 M. For the comparable quarter a year earlier, it had net income of USD 57.8 M on revenue of USD 798 M.
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