Pro7 posts loss, defies expectations

German broadcast ProSiebenSat.1 posted a net loss of €1.7m, but beat analysts expectations as a series of cost cutting measures introduced last year started to take shape.

The company, which also operates channels across Scandinavia and Eastern Europe, posted a 14% fall in revenues to €627m, compared to €729m last year. However, a series of measures including centralisation of its free-to-air activities in Germany, helped safeguard the company against falling advertising revenues.