Germany's Constantin Medien Doubles Profits in First Half
COLOGNE, Germany - Germany's Constantin Medien posted strong first half financials on Thursday, recording a 5.6 percent increase in revenue and more than doubling profits in the first six months of 2012.
The group booked $260.5 million (€211.7 million) in sales in the first half and a profit of $2.5 million (€2 million). The figures were in line with Constantin’s own forecasts.
The company recorded improvements in such core businesses as film, where revenue jumped 10 percent, while its sport sales business held steady.
For the full year, Constantin expects sales of between $566 million-$591 million (€460 million-€480 million) and further improvement in the earnings at the group.
Constantin controls a 47 percent stake in Highlight Communications, the Swiss parent company of German mini-major Constantin Film and owns sports pay-TV channel Sport1.
Constantin recently signed a programming deal with German pay TV operator Sky Deutschland, in which Rupert Murdoch's News Corp. owns a big stake.