Profit Down at TF1

PARIS: For the first nine months of 2011, consolidated revenue at TF1 was relatively flat, up 0.7 percent, to 1.8 billion euros, though net profit was down 26.2 percent to 125.2 million euros.

TF1 saw its profit slide 93.1 percent in the third quarter to 6.6 million euros, despite a gain in revenues of 3.7 percent to 561.2 million euros. The reason for the dip was cited as: "In accordance with accounting standards, the previously-held equity interests in TMC and NT1 were remeasured in 2010 on the first-time consolidation of these two entities."

TF1 channel advertising fell slightly, down 1.6 percent, to 1.05 billion euros. Revenue from other activities gained 3.9 percent year-on-year, to reach 784.4 million euros. This gain was due in part to the acquisition of interests in TMC and NT1.

Programming costs at the flagship TF1 channel were down slightly, from 693.1 million euros a year ago to 639.4 million euros. This 7.7-percent improvement was from the absence of the FIFA World Cup, generating savings of 63.3 million on rights; the 12.4 million euros spent on the Rugby World Cup; and a 2.8 million euros savings on other programs.