Pro Sieben Sat.1: First-quarter profit nearly doubled
The German broadcasting group Pro Sieben Sat.1 nearly doubled its profit in the first three months of 2011. The TV group’s net profit came in at 38.3 million euros, compared with 21.7 million euros in the same quarter of the previous year.
Prosieben Sat.1's revenues grew by 3.7 percent to EUR 682.8 million. While advertising revenues in the domestic market remained almost at the previous year's level, partly due to the late timing of Easter, they grew strongly in some cases outside Germany, as the station group announced in Munich on Thursday.
The Group expects sales to increase by at least a low single-digit percentage in both the first half of the year and for 2011 as a whole. While profits in the first half of the year are likely to be at the previous year's level due to the current subdued development in the German TV advertising market, an increase is expected for the year as a whole, it added. (SDA)
