RTL States Joining FTSE 100 Index As Medium Term Aim

Pan-European broadcaster RTL has announced its first set of interim results since floating on the UK stock exchange 2 months ago (see RTL Lists On Stock Exchange With Value Of £16.6bn). The group has seen pre-tax profits increase by 46% to E316m, while net profits have fallen from E198m for the same period last year to E71m for the six months ending 30 June 2000, a drop of 64%.

The group has reported that sales are up 22% at E2.03bn, thanks in part to the company’s strengthened position in core markets. Recent acquisitions in the UK include an additional 11.7% stake in Channel 5 and the outright purchase of Talkback Productions.

RTL’s free float is currently 10.3%, which is not enough to allow it join the FTSE 100 index. While announcing these results, it stated that increasing this free float to the 15% needed to join is one of its medium term intentions.

RTL was created in April this year when Audiofina’s majority shareholder Groupe Bruxelles Lambert (GBL) and Bertelsmann, the two co-controlling shareholders of CLT-UFA, agreed to merge the group with Pearson’s television interests (see Pearson In Merger Deal To Create European TV Giant).

Pearson: 020 7411 2000