French commercial television channel TF1 yesterday watched its stock tumble over 11% after it reported a drop in first-half net profits and warned full-year ad revenues would be lower than expected.

Net profits at the channel fell 4.3% in the first half of 2001, from E168 million to E160.8m, and are expected to be 8%–10% down over the full year. Ad revenues, meanwhile, are forecast to be 3%–5% lower in 2001 than 2000.

News source: Financial Times