Russia's CTC Media Q2 net income falls 16 pct yr/yr

Reuters

MOSCOW, July 31 (Reuters) - Russian broadcaster CTC Media reported on Thursday a 16 percent fall in second-quarter net profit to $26.7 million partly due to a weaker rouble.

Revenues decreased 11 percent to $184.3 million and operating income before depreciation and amortisation (OIBDA) slid 21 percent to $45.4 million, with a 24.7 percent margin.

The company said it now expected full-year 2014 OIBDA margin at 30 percent, at the upper end of the previously announced 28-30 percent forecast range, as it anticipates that its revenue growth will outpace the growth of its programming costs.

(Reporting by Maria Kiselyova; Editing by Megan Davies)

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