PW: Sales Down, Profits Up at Hachette

Hachette is also a major player in the schools, under its own imprint and that of acquired Hatier, a free-standing affiliate acquired in 1996 for upward of $100 million (a figure revealed only now by Lisimachio). Hachette ranks as France's number-two publishing company, trailing Havas; together the two giants account for nearly half the total French book market.

In his announcement to the press, Lisimachio indicated satisfaction with the renaissance of Spanish subsidiary Salvat, once all but given up for lost. With upwards of $77 million in sales last year, the traditional Spanish reference and partworks house is expanding once again in Latin America as well as Portugal.