CTC outperforms Russian ad market

By Chris Dziadul
November 5, 2009 11.45 UK

MTG-backed CTC Media continues to outperform the Russian TV ad market despite seeing its ad sales slump by 4% in rouble terms in the third quarter.

However, in dollar terms its total operating revenues in Q3 amounted to $106,935,000 (€72,409,450), a 25.4% reduction on the Q3 2008 total, while OIBDA fell by 30.6% to $38,201,000 over the same period.

Net income nevertheless rose by 23.3% to $25,855,000. CTC Media operates CTC, Domashny and DTV networks, along with Channel 31 in Kazakhstan.