European broadcast giant CLT-Ufa reported an impressive turnaround in earnings for the 1999 financial year, delivering a euros415m profit compared with a loss of euros14m in 1998. Revenue for the period was up 5% to euros3.21bn
CLT-Ufa attributed the improvement to increased profit from its traditional broadcast operations, which include Germany's RTL Television and France's M6, and the move into profit of German station Super RTL.
In addition, CLT-Ufa reported decreased losses at UK broadcaster Channel 5, in which it holds a 35.37% stake, Vox and RTL Klub. The company also benefited from non-inclusion of losses from pay-TV outfit Premiere, which was sold to Kirch.