M6 maintains profit despite ad revenue drop

French commercial channel M6 managed to produce net income of €80.1m for the first half of 2009, up from €79.2m year-on-year, despite a 14% decline in advertising revenues.

M6 reported consolidated revenues of €678.3m for the first half of the year, down 4.3% year-on-year. Second quarter revenues fell by 8.1% to €350.9m, driven by a 16.5% fall in sales by the group’s flagship channel, taking its total to €170m. M6’s digital channels contributed €37.9m in the second quarter, up 11.9%. Revenue from other activities and audiovisual rights declined by 1% in the second quarter to €144.4m.

President Nicolas de Tavernost said he was “extremely cautious” about prospects for the ad market for the rest of the year and especially for 2010, adding that control of costs would be extremely important.