2007 net profits up 15.6%
MILAN — Fininvest, Italo Prime Minister Silvio Berlusconi’s holding company, on Friday reported 2007 net profits up 15.6% to e365 million ($575.2 million) on revenues up 9.2% to $9.7 billion.
Fininvest houses broadcast group Mediaset, publisher Monadori and AC Milan soccer club.
Analyst Alessandri Bai-Badino of Deutsche Bank warned that the outlook for Mediaset, Italy’s biggest commercial broadcaster, remained uncertain for 2008.
“Net profits for the Mediaset part of Fininvest were flat in 2007, and they dipped a bit in the first quarter of 2008,” he said.
He added that the pressure on advertising revenues “would outweigh” the potential benefits for Mediaset having its controller re-elected prime minister.