May 7, 2014 / 12:10 PM / 4 years ago

Broadcaster CME says regaining lost market share will take time

PRAGUE, May 7 (Reuters) - Broadcaster Central European Media Enterprises (CME) said on Wednesday it would take more than a year to regain lost market share in its top market the Czech Republic, which will be reflected in consolidated results.

“We continue to expect a significant improvement in net revenues in the Czech Republic in 2014 when compared to 2013, but do not expect to reach 2012 levels this year as it will take more than one year for us to regain the market share lost during 2013,” CME said in a regulatory filing.

“Given the significance of this segment to the company, we expect a similar trend in the consolidated results.”

The company, active in six central and eastern European markets, earlier reported a narrower first-quarter loss boosted by higher revenue after adjusting a higher pricing strategy that was rejected by Czech customers last year. (Reporting by Jason Hovet; Editing by Pravin Char)

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