TF1 swings to Q1 operating profit helped by cost cuts
PARIS, April 30
PARIS, April 30 (Reuters) - France's largest private television broadcaster TF1 said first-quarter sales fell 1.6 pct to 469.7 million euros, hurt largely by its non-advertising sales in video.
TF1, which competes with smaller rival M6 and state-backed France Televisions, swung to a 10.9 million euros operating profit after a loss of 20.7 million last year, helped by cost cutting and delayed programmes.
Advertising sales at its main channel TF1 fell 0.4 percent to 354.1 million euros.
TF1 said advertisers remained cautious on spending, but that special events like the soccer World Cup this summer would likely boost their spending. It confirmed an earlier cost-cutting target of 25 million euros this year. (Reporting by Leila Abboud; Editing by Leigh Thomas)