Sharp advertising recovery helps Dogan trim losses

Turkish media group Dogan Yayin has upped revenues and trimmed losses in the first three months of the year.

The company, which operates the Kanal D and Star TV channels, said that domestic ad revenues increased sharply. Dogan board member Soner Gedik said: “There is a strong recovery in the Turkish ad market, around 36% growth in in 1Q10. As a result, performance of our operations was above budget in this first quarter.”

Dogan posted a net loss of TRY49.9m (€25.5m) compared with a loss of TRY165.1m in the same period a year ago. Revenues came in at TRY602m, a 10% year-on-year increase.