United Kingdom

Central European Media Enterprises Qtrly loss per share $0.03

Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Central European Media Enterprises Ltd :Central European Media Enterprises Ltd. reports results for the third quarter and nine months ended september 30, 2017.Qtrly ‍net revenues increased 11% at actual rates and 5% at constant rates to $ 119.4 million​.Qtrly ‍operating income increased 40% at actual rates and 35% at constant rates to $ 16.0 million​.Qtrly ‍OIBDA increased 30% at actual rates and 24% at constant rates to $ 25.1 million​.Qtrly ‍TV advertising revenues increased 10% at actual rates and 4% at constant rates​.Qtrly ‍carriage fees and subscription revenues increased 20% at actual rates and 15% at constant rates​.Qtrly loss per share $0.03.Proceeds from sale of operations in Croatia, Slovenia will be used to repay debt.Sale proceeds of operations in Croatia, Slovenia is expected to decrease cost of borrowing by additional 150 basis​.Raises guidance for full year​.‍"We will see our average borrowing cost decline by 125 basis points to 6.0%, its lowest level in eight years"​.