Romania, most profitable market for media group CME

Central European Media (CME) group recorded a 20% increase in operational profit (at constant exchange rates or like-for-like - lfl) on the Romanian market in the third quarter of this year, to USD 15.5 million. Romania was thus the most profitable of the four markets CME is operating on although it’s only second in terms of revenues, after the Czech Republic. CME’s revenues in Romania went up by 6.4% lfl to USD 40.5 million, in the third quarter. In the first nine months, the group’s revenues in Romania reached USD 128 million, recording an almost 10% lfl increase, while the operating profit increased by 18.3% to USD 52.45 million. The group’s total operating profit went up by 17.8% in the same period, to USD 97.9 million. CME owns PRO TV, the biggest media group in Romania in terms of viewership and revenues. The group also operates in the Czech Republic, Slovakia, and Bulgaria. Source: Romania-Insider.com editor@romania-insider.com