TF1 Q1 Revenues, Profits Up

PARIS: An improved advertising market helped to boost TF1 Group’s first-quarter revenues by 11 percent to 597 million euros, delivering a net profit of 33 million euros, up from the 6 million euros profit posted in the same period last year.

French broadcasting revenues gained 10 percent to 481 million euros, with an operating profit up 38 million euros, as compared with last year’s 3 million euros. Advertising revenues within this segment posted a 13 percent gain to 363 million euros. In the quarter, TF1 scored a share of 25.1 percent of adults 4 up.

Audiovisual rights revenues were relatively stable at 32 million euros, and the segment narrowed its loss to 4 million euros from 14 million euros. International broadcasting revenues were up by 22 percent to 84 million euros, with an improved profit of 10 million euros.

Forecasting its overall 2010 results, TF1 expects a 4 percent year-on-year revenue gain. The company notes that "vigilance will remain the watchword over the coming months. Although volumes have picked up, advertisers are still wary in the current economic climate; they are giving little visibility on their future spending and are maintaining strong price pressure. In addition, TF1 will face tougher comparatives in the second half. "

The company also noted that Haim Saban has resigned from the board of directors after more than seven years.