France's TF1 predicts ad market will contract
PARIS Feb 19 (Reuters) - France's largest private broadcaster, TF1, said fourth-quarter revenue fell 5.7 pct to 724 million euros ($996 million), while profits improved via cost-cutting amid continued weak demand for television advertising in its home market.
Current operating profit rose 14 percent to 118.8 million euros, while net profit was stable at 137 million, TF1 said on Wednesday.
"In a gloomy economic climate with no sign of recovery and visibility still poor, the net television advertising market could see a contraction in 2014," the group said in a statement. ($1 = 0.7272 euros) (Reporting by Leila Abboud; Editing by James Regan)