Axel Springer says digital helped boost profit nearly fivefold

Flags with the logos of the main newspapers of German publisher Axel Springer fly outside its headquarters in Berlin August 7, 2013. REUTERS/Thomas Peter/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH 'BUSINESS WEEK AHEAD MAY 9' FOR ALL IMAGES

FRANKFURT: German media giant Axel Springer said that it was sticking to its full-year targets after its booming digital business powered strong earnings growth in the first three months. 

“During the first three months of the 2016 financial year, Axel Springer profited once again from the growth momentum of its digital business models,“ the company said in a statement.