ProSiebenSat.1 Hikes Q2 Profits by 51%

30 August 2005

The former lossmaking German TV titan, ProSiebenSat.1 Media, in process of acquisition by compatriot newspaper publisher Axel Springer, on Friday delivered a 51% rise in second quarter profits.

Net profit rose to €71.7 million ($88m; £49m) from €47.6m a year earlier. Analysts had expected a surplus of around €61.5 million. Sales grew year-on-year by 2.4% to €507.8m, up from €496m.

Ceo Guillaume de Posch was in bullish mode, expecting the company "to perform better than the market" in the current year, both in terms of increased revenue and improved profit. "We will achieve the goals we have set ourselves for fiscal 2005," he predicted.

Data sourced from Wall Street Journal Online; additional content by WARC staff