July 23, 2019 / 1:00 PM / a month ago

Broadcaster CME raises 2019 profit, cash flow outlook

PRAGUE (Reuters) - Broadcaster Central European Media Enterprises (CME) (CETV.O) (CETV.PR) raised its 2019 outlook for core profit and cash flow growth for a second straight quarter after posting an estimate-beating second-quarter result.

CME said in an earnings presentation it expected its operating income before depreciation and amortization (OIBDA) to grow in 2019 between 14-16% at constant exchange rates, up from a previous forecast of 12-14% growth.

It added its unlevered free cash flow growth should reached 14-16% at actual rates, up from its previous estimate of around 10%.

Reporting by Jason Hovet; Editing by Michael Kahn

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