Germany’s biggest television group ProSiebenSat.1, formed by a merger this summer, yesterday reported a 56% hike in earnings over nine months, with pre-tax profits hitting Euro 74.1 million.

This rise in income owed a lot to SAT.1’s drop in pre-tax losses from Euro37.7m to Euro4.1m, itself fuelled by the lucrative advertising market in Germany this year.

However, advertising sales are expected to slow, and observers believe that SAT.1’s growth will not be quick enough to allow the group to hit its year-end targets of Euro231m pre-tax profits.

News source: Financial Times