© Reuters. The headquarters of Mediaset and its logo can be seen ahead of the annual general meeting of the private broadcaster in Cologno Monzese near Milan, Italy, June 22, 2021. REUTERS / Flavio Lo Scalzo
MILAN (Reuters) – Italy’s leading commercial broadcaster Mediaset posted a six-fold increase in operating profit for its first half on Wednesday, helped by the rebound in domestic and Spanish advertising sales after last year’s virus-induced hit.
The station, controlled by the family of former Prime Minister Silvio Berlusconi, reported a consolidated operating profit of 198.7 million euros (234.57 million US dollars) in the first half of the year, compared to 31.7 million euros in the previous year, while net sales of 1.17 billion 1.39 billion euros rose.
Mediaset said domestic advertising revenues grew 31.7% in the first six months of the year and also increased in July and August compared to the same period in 2020 and 2019.
The Group’s total operating costs rose in the first six months to 1.19 billion euros from 1.13 billion euros in the previous year.
According to Mediaset, the positive trend in total advertising sales in TV, radio and digital channels in Italy continued in the third quarter, with the cumulative figures for the first nine months expected to be higher than those of 2020 and 2019.
($ 1 = 0.8471 euros)
Fusion media or anyone involved in Fusion Media assumes no liability for any loss or damage arising out of reliance on the information contained on this website including data, prices, charts, and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.