28-10-2015

Exchange Rates Bites into CME Returns

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PRAGUE: Central European Media Enterprises posted increases in net revenues for both Q3 and its nine month statement, but a rising dollar ended up showing a decline for the company.

When measured by constant rates, revenues were up 5 percent in for the third quarter to 117.3 m USD, and 7 percent for the first nine months of 2015 to 401.3 m USD.

Advertising across the six CEE territories where CME operates TV stations was up 8 percent. However the numbers were not good enough to spur the price of CME stock, which showed a slight decline after the company’s announcement.

Co-CEO’s Michael Del Nin and Christoph Mainusch remained upbeat, noting they had been successful in turning the company around with improved revenues and cost controls.