Pay-TV channel Premiere cuts losses, turns profit

19th May 2005, Comments 0 comments

19 May 2005, MUNICH - Premiere, Germany's main pay-TV channel, said on Thursday it operated in the black in the first quarter of 2005 while drastically reducing net losses.

19 May 2005

MUNICH - Premiere, Germany's main pay-TV channel, said on Thursday it operated in the black in the first quarter of 2005 while drastically reducing net losses.

Premiere said its net loss of EUR 3.4 million was well down from EUR 41.4 million red-ink in the first quarter of 2004.

Pre-tax earnings were in the black, at EUR 3.7 million, as meanwhile first-quarter revenues came to EUR 247.4 million, up 10 percent on the same 2004 period, Premiere said.

The company said it had 3.3 million subscribers in the first quarter, up 12 percent from a year earlier.

DPA

Subject: German news

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