Profit and ad revenues down, programming costs up at TF1

TF1 has posted a year-on-year decline in operating profit and ad revenues in the first quarter of 2012.

France’s largest commercial broadcaster reported a 2.3% year-on-year increase in overall revenue of €628.6 million, but advertising revenues of €339.5 million were down 3.9% and quarterly operating profit of €56 million compared with €61 million a year earlier.

The broadcaster said it was sticking to its earlier full-year financial forecasts and focusing on cost control.

“Nevertheless, the economic climate remains unstable, and the resulting uncertainty continues to generate significant volatility,” it added. “TF1 Group has the strengths needed to cope with the uncertainties of its environment, and will continue through 2012 with its strategy of enhancing its free-to-air multi channel offering and building its digital businesses, supported by the dynamism of its diversification activities.”