Russia’s CTC Media has posted revenues of $143,307,000 for Q3, or 52.3% more than in the corresponding period last year.
At the same time, its OIBDA rose 72.2% year-on-year to $55,030,000 and net income by 20.5% to $20,969,000.
Although MTG-backed CTC Media has recently been undergoing a process of expansion – it entered Moldova earlier this month, and also has a presence in Kazakhstan and Uzbekistan – the company pulls no punches about the “unfavourable macroeconomic outlook in Russia and the potentially negative consequences that outlook may have on the advertising market.”
It is therefore prepared to “adjust our strategy, operations and costs accordingly.”