July 23, 2008
International entertainment broadcasting company Modern Times Group (MTG) has released figures for the second quarter and six months ended 30 June 2008. Group net sales were up 17 per cent year on year to SEK3.318 billion (E350m). Group operating income was up 26 per cent year on year to SEK673 million, with an increased operating margin of 20 per cent. Total Group operating income was SEK1,756 million (including a SEK1,159 million net gain from the sale of Russian DTV Group and a SEK76 million non-cash asset impairment charge in the Online business area).
Hans-Holger Albrecht, President and Chief Executive Officer, commented: "The results for the second quarter and first half of 2008 are again at record levels, both in terms of sales and profitability. This quarter marks the fifteenth consecutive quarter of double digit year on year sales growth by MTG."
Meantime, MTG is reported to be among those considering bids for News Corps central European broadcast assets.