CME CEO Mr. Garin said that he expects the company to double its revenues over next five years driven by fast growing Central and Eastern European advertising spending. He commented that he feels 'comfortable' with the company profit guidance. He added that the expansion plans for
more CEE countries such as Bulgaria, Hungary, Russia and Poland are still valid, but gave no details.
Our view: We find hardly any trace of a new information in the yesterday's interview. Our earnings forecast calls for doubling of CME revenues over the next 5 years as well. The consensus estimate is above company guidance and the question whether CME plans to increase it remained without an answer.