M6 resists with 0.6% profit growth
Written by Pascale Paoli Lebailly
Sunday, 14 February 2010 11:19
French broadcaster M6 posted a 0.6% growth in its net profit in 2009 at â,¬139.2m, despite a fall in its consolidated current operating income by 1.9% to â,¬190.3m.
M6’s resistance during the 2009 crisis is mostly due to the stabilization of its revenues as consolidated revenues were up 1.6 % to â,¬1,376.6m. Despite an 8% decrease in advertising revenues, M6 took advantage of diversification and digital activities. During the presentation of results to analysts, M6 addded that its grid costs decreased 12.5 % last year.
M6 CEO Nicolas de Tavernost also confirmed to daily Le Figaro that new acquisitions were not out of the question this year even though the group will focus on in-house developments, related to digital television and the internet.
The company also plans to co-invest a hundred million euros in the building of a new stadium for its football club Les Girondins de Bordeaux.
© Rapid TV News 2010