MTG sees profits and revenue rise

Scandinavia-focused media group Modern Times Group (MTG) has reported a half-year increase in profits and revenue. The company recorded sales of SEK6.7 billion (€730 million) for the six months to end-June, a 3% increase year-on-year.

Pre-tax profit increased 22%, taking the total to SEK1.4 billion as free-to-air TV advertising revenues recovered in key markets.

“The Nordic TV advertising markets have continued to grow but recovery in the emerging advertising markets is still lagging,” said MTG CEO Hans-Holger Albrecht. He added: “We have also strengthened our content offering further with the acquisition or extension of exclusive agreements for key sports rights and with the Hollywood majors, while at the same time focusing on locally produced programming.”

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