LUXEMBOURG: Europe's largest commercial broadcast network RTL Group saw operating profits grow 1.6% in the first nine months of 2008 to €577 million ($737m; £465m), with the strong performance of its German TV arm and rising production revenues enabling it to "buck a tougher economic climate".
Owned by German media group Bertelsmann, RTL posted an increase in revenue of 1.4% to €4.09 billion for the first nine months of 2008.
The performance of RTL Germany was "particularly strong", and its operations in the Netherlands also delivered growth, but the TV advertising climate elsewhere was “very mixed”, the company reported.
Positive trading in Germany and Holland, combined with strong figures for its UK production company Freemantle Media, effectively "compensated for significant negative effects such as the slowdown in several advertising markets".
A statement adds: "The outlook for the full year 2008 remains unchanged. Despite the current economic climate and continued low visibility on the advertising markets, RTL Group remains cautiously optimistic about achieving its financial targets in 2008."
Data sourced from Guardian.co.uk; additional content by WARC staff