Central European Media Enterprises, the east European broadcaster partly owned by Time (33,58 USD, 0,39%), is “comfortable” with full-year analysts’ estimates, Chief Executive Officer Adrian Sarbu said. “We’re comfortable with market expectations of $850 million in revenue and operating income before depreciation and amortization of $166 million,” Sarbu said late yesterday in an interview at the company’s premises in Prague.
“The latest Sarbu's comment on recent development sounds positive. Overall TV ad spending across all six CME’s markets grew 1 percent in the third quarter, the executive said, after a 3% decline in the previous quarter. The Czech market recorded “single digit” growth in the period, which is positive, as the Czech unit is the most profitable within the group. Markets like Romania and Bulgaria didn’t recover in the quarter, which could be expected,” analyst Tomas Tomcany of Patria Finance sais. The company will release its 3Q earnings on Wednesday, Oct 26.
“We don’t see changes in the pattern of spending of advertisers for October and we don’t expect them in the fourth quarter,” Sarbu said. Overall television advertising spending across all six CME’s markets grew 1 percent in the third quarter, the executive said. The Czech market recorded “single digit” growth in the period, while markets like Romania and Bulgaria didn’t recover in the quarter.
(Source: Bloomberg, CETV)