MILAN, July 23 (Reuters) - Italian publisher Gruppo Editoriale L'Espresso saw its first-half net profit slump to 0.1 million euros from 36.4 million euros ($51.78 million) a year ago on the back of weak advertising and newspaper sales, it said.
L'Espresso, the publisher of Italy's second-biggest selling daily, la Repubblica, said in a statement on Thursday results in the second half of the year depended on the economic crisis, but added that it did not expect them to be significantly different to those "seen to date".
Revenues in the first half of the year fell 17.3 percent to 449.3 million euros ($639.1 million), as advertising sales fell 23.8 percent to 246.2 million euros.
Net debt at the end of June was 249.1 million euros from 278.9 million euros at the end of 2008.
L'Espresso is controlled by holding company CIR.
L'Espresso shares were up 0.24 percent at 1.24 euros at 1207 GMT.
Elsewhere on Thursday, British newspaper publisher Daily Mail & General Trust said the decline in advertising revenue at its titles slowed during the June quarter, but forward visibility remained low. And French advertising company Publicis said the worst of the global downturn was behind it and it aimed to return to growth next year. (Reporting by Stephen Jewkes; Editing by Rupert Winchester)