FRANKFURT, August 13, 2008 (AFP) - The Axel Springer group, the biggest newspaper publisher in Europe, reported on Wednesday a sixfold rise in first-half net profit on a strong second-quarter performance.

The group reported a 44.8-percent rise in underlying operating profit in the quarter and stood by its targets for the whole of the year.

The group said that it had achieved the profits rise despite a difficult business environment, attributing part of its success to dynamic international operations which it has strengthened by acquisitions in recent years.

Net profit for the first half rose by slightly more than six times to 526.2 million euros (785.2 million dollars), boosted by the sale of the group's 12-percent interest in ProSiebenSat 1 television to the KKR and Permira investment funds.

Earnings before interest, tax, depreciation and amortisation in the second quarter rose by 44.8 percent to 135.2 million euros.

Chief executive Mathias Dopfner said that the group had 'defied market conditions.'

The group said that sales in the first half had risen by 11.1 percent on a 12-month comparison to 1.34 billion euros, owing to a sharp rise in advertising sales and a rise in prices for some of the top publications.

Dopfner said that turbulence on financial markets, and the fall of some media shares, could offer an opportunity for takeovers at low prices.