CTC Media's Q1 net profits up 8% to $25 mil

Leading Russian commercial b'cast group sees revenue up 18%

MOSCOW -- CTC Media, Russia's leading commercial broadcast group said Thursday that its Q1 net profits increased by 8% to $25.2 million on revenues up 18% to $123.2, year on year.

CTC CEO Anton Kudryashov said in a press release that the figures were impacted by the stabilization and renewed growth of the local TV advertising market.

He added that the figures also reflected "the efficient monetization of substantially increased target audience shares for our CTC and Domashny channels, with continued high power ratios, as well as favorable currency exchange rate movements." Meanwhile, in rouble terms, CTC's net revenues were only 3% up over the period.