Russian broadcaster CTC Q2 earnings fall 11 pct y/y

MOSCOW Tue Aug 7, 2012 5:12am EDT

MOSCOW Aug 7 (Reuters) - Russian broadcaster CTC Media said on Tuesday its second-quarter net profit fell 11 percent, year-on-year, to $34.05 million, dragged down by lower sales and audience share.

Revenues decreased 8 percent to $187.6 million, the company said in a statement, due mainly to the depreciation of the Russian rouble against the dollar, while in rouble terms the revenues were up 2 percent.

The company also said its operating income before depreciation and amortisation (OIBDA) decreased 18 percent to $54.1 million, for an OIBDA margin of 28.8 percent - down from 32.3 percent a year ago.