10.30 Europe/London, August 17, 2011 By Chris Dziadul

The Czech Republic is proving to be an increasingly lucrative market for Time Warner.

E15 reports that the company had record profits of over CZK132 million (5.41 million) in the country last year and that its next dividend will be CZK130 million.

Time Warner has a presence in the Czech Republic through HBO Czech Republic, whose parent company HBO Central Europe has been wholly owned by HBO since January 2010.

Time Warner is also a 31% shareholder in CME, whose interests include TV Nova, the leading broadcaster in the Czech Republic.