European broadcaster RTL has this morning issued its second profits warning (see RTL Says 2001 Earnings Will Be Flat In Current Ad Climate), saying that trading during March has come in below expectations. Furthermore, the group says that visibility in the European television sector has deteriorated further.
RTL says that given the lack of visibility, it cannot predict with any accuracy a timeframe for recovery. Its problems have hit Pearson’s interim financial results, also out this morning (see
Pearson Results Show FT Profits Hit By Ad Downturn).
EBITA at the group is now expected to be some 10-15% lower than in 2000; ABN has cut its forecasts from €557 million to €430-€440 million.
