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CME doubles profit as key markets recover

CME doubled OIBDA profit and posted a healthy increase in revenues in the nine months to end-September.

The Central and Eastern Europe-focused broadcast group registered revenue increases in its key markets, the Czech Republic, Romania and Bulgaria in the period. Overall revenues for the nine months were US$587.9 million (€422.5 million), a 22.6% year-on-year increase and OIBDA profit was US$85.8 million, a 101.7% year-on-year uptick.

Adrian Sarbu, CME’s president and CEO said: “In the first nine months of 2011 we doubled our OIBDA from US$43 million to US$86 million when our TV ad markets showed mixed recovery. We now expect to generate revenues of approximately US$850 million and OIBDA of US$ 166 million for the full year.”

Tags: CME