French conglomerate Bouygues first-quarter results have been hit hard by the poor performance of commercial broadcaster TF1.
Bouygues turned in first-quarter revenues of Â6.655bn, down 2%. Operational income fell by 55% to Â174m, while net income fell by 29% to Â159m.
TF1 saw its revenues fall by 17% during the first three months of the year, with operational income of negative Â12m. Bouygues Telecom, by contrast, saw its subscriber base grow by 144,000 during the quarter and turned in revenues of Â1.175bn, up 5% year-on-year.Â