Sweden's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

MTG operating profits double

Share this article

09:30 CEST+02:00
Swedish media giant Modern Times Group (MTG) has announced pre-tax profits of 440 million kronor for the first quarter, down from 575 million in the same period in 2005.

Last year's figures, however, included a net profit of 389 million kronor from the sale of financial assets. MTG's operating profits, excluding the proceeds of the sale, rose from 212 million kronor in the first three months of 2005 to 453 million for the same period this year.

"These are MTG's best ever first quarter results," wrote CEO Hans-holder Albrecht in the company's quarterly report. All the company's core businesses have shown good growth and improved results, he said.

The group includes Viasat Broadcasting, which runs cable and satellite TV channels in the Nordic and Baltic regions, as well as radio and home shopping operations.

TT/The Local

 
Get notified about breaking news on The Local

Share this article

From our sponsors

How to work 9-5 and travel the rest of the time

A full-time job shouldn't stop you from satisfying your wanderlust. The Local spoke to Travel After 5 blogger Alline Waldhelm to find out her tips and tricks for travellers who only have 25 days of annual leave.

Discussion forum