July 24, 2019 / 4:56 PM / 2 months ago

Mediaset net profit jumps in first half on lower pay-TV costs

FILE PHOTO: The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, April 7, 2016. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Italian commercial broadcaster Mediaset (MS.MI) more than doubled its net profit in the first half to 109 million euros ($121 million), the company said on Wednesday, as it cut costs relating to soccer rights and its pay-TV business.

The Milan-based company, controlled by the family of former Prime Minister Silvio Berlusconi, reported a 55% increase in consolidated operating net profit to 192 million euros from the same period of a year ago, according to preliminary figures.

Mediaset did not give sales figures but said it expected a fall in the group’s total revenue in the first half of the year.

Mediaset will release full first half group results, initially due on Thursday, on September 30.

Reporting by Elvira Pollina, editing by Stephen Jewkes

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