Mediaset cuts dividend as 2011 profit falls

Italian broadcaster Mediaset has recorded a drop in full-year 2011 profit and cut its annual dividend.

The company, which is owned by the Berlusconi family, recorded annual revenue of €4.25 billion, a 1% year-on-year decrease. Net profit decreased 36% year-on-year, taking the total to €225 million and Mediaset said it would cut its dividend from €0.35 a share to €0.10 a share.

The broadcaster did, however, increase revenues at its Italian pay TV operations. These recorded sales of €615.6 million, a 14% year-on-year increase.

The company said: “The Group’s results in 2011 obviously reflect the difficult international economic situation. In this context, however, the Mediaset Group confirmed the best performance in TV advertising sales, consolidated its market share and maintained its ratings leadership in the commercial targets of reference.”