Pan-European broadcast group RTL has posted an 11% decrease in first quarter revenue, blaming double-digit declines in TV advertising markets across Europe. Revenue for the quarter came in at 1.2bn. EBITA profit decreased 53.7% year-on-year through the quarter, taking the total to Â87m.â¨
RTL said it is reviewing its cost base across the board. ÂThis process will result in a significantly lower cost base across the GroupÂs core businesses, which will be fully implemented by the year 2011,Â RTL said. It added that, given the parlous state of TV advertising markets, it is impossible to issue full year guidance.
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