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CME braces for challenging end to the year

Adrian Sarbu, CEO of CME, said that the first half of the year has been tough for the company and the second half will also be challenging.

“The first half of the year was difficult with only the Czech Republic and Slovenia starting to recover,” he said. “The second half will be challenging but our continuing audience leadership uniquely positions us to take advantage of any improvements in our markets.”

The comments came as the central and eastern Europe-focused broadcasting group reported first-half results. Revenues of US$201.8m (€155m) were boosted by the sale of Ukrainian broadcaster 1+1 in the reporting period and up 10% year-on-year. Net income of US$6.3m compared to a loss of US$42.5m in the first half of 2009.

By territory, the Czech Republic was the company’s biggest earner, generating US$71.6m in the first half. Romania, Slovakia and Slovenia were the next highest earners respectively.