23-10-2011

Modern Times Group Profits up in Baltics, Central Europe

By FNE Staff
    STOCKHOLM: Swedish based Modern Times Group, with emerging market operations in the Baltics and Central Europe, reported a 3% rise in 2011 Q3 sales compared with 2010 Q3 results. The Baltics and Czech Republic posted particularly strong growth, with Q3 sales up 19%,
    Bulgaria was down 3%, bringing the sales total for the three to SEK 352 million, a 14% increase. Year to date sales for the five countries. were up 5% (9% adjusting for exchange rates), at SEK 1,254 million. Sales were flat in Slovenia and slightly down in Hungary.

    The company's pay-TV emerging markets segment saw 5% growth in the quarter, with net sales of SEK 240 million. Growth was partially driven by an increase in the subscriber base in the Baltics.

    MTG (www.mtg.se) operates three stations each in Estonia, Latvia, and Lithuania, including the TV3 and TV6 brands, two channels in the Czech Republic under the Prima brand, and four in Bulgaria under the Nova and Diema brands.