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Cost control and revenue increase drives P7S1 profit surge

ProSiebenSat.1 has recorded a 64% increase in 2Q10 net profit, taking the total for the quarter to €74.5m.

The German-based broadcast group said that revenue increases across all of its business units and flat costs drove the large uptick in profits.

EBITDA profit increased 31.1% and came in at €263.8m in the second quarter. Group revenues increased 9.6%, taking the total to €760.6m. The largest cash generator was the company’s German free-to-air TV segment, which comprises the ProSieben and Sat.1 channels. It reported an 8.3% rise in revenues of €459.7mn.

The company said that it was carrying €3.3bn of debt at the end of the quarter, €152.2m less than at the same point last year.