Profit Dips at TF1

PARIS: Lower TV ad revenue and higher programming costs led TF1 to post an 8.9-percent drop in its operating profit to 56 million euros ($72 million).

Consolidated revenue for the first quarter at TF1 was up 2.3 percent to 628.6 million euros ($808.3 million). Net profit was down 24.5 percent, to 36.4 million euros ($46.8 million).

Ad revenue at the TF1 channel was down 3.9 percent from the year ago Q1 period to 339.5 million euros ($436.5 million). Revenue from other activities was up 10.7 percent to 289.1 million euros ($371.7 million). For the group as a whole, ad revenue was flat year-on-year at 419.2 million euros ($539 million).

Programming costs for the TF1 channel were higher, at 237.7 million ($305.6 million), compared to 205.4 million euros ($264 million).