Revs grow to $1.7 bil after first half of '98
BERLIN — Luxembourg-based broadcasting giant CLT-Ufa reported on Friday strong increases in profit and turnover for the first half of 1998. Net profit rose to 2.3 billion LUF ($66.4 million) in the first six months of 1998, up from $14.4 million during the same period of last year. At the same time, revenues grew 7.4% to $1.7 billion.
CLT-Ufa attributed the improved figures to positive developments in its core businesses, especially in Germany and the Netherlands. French network M6 delivered healthy profits in the first half, while German weblet RTL2 passed the breakeven mark.
CLT-Ufa invested $101 million in new business ventures during the first six months of 1998, up from $43 million in the first half year of 1997. The bulk of investment coin flowed to Channel 5 in the U.K., RTL Klub in Hungary, RTL7 in Poland and Premiere Digital in Germany.