Time Warner-backed Central European Media Enterprises (CME) has posted revenues of $378.7 million (€308.3 million) for the first six months of this year, down from $422.4 million in the same period in 2011.
Operating income was $13.3 million, compared to $31.8 million, while net losses improved from $20.1 million to $9.4 million.
Meanwhile in the second quarter, net revenues amounted to $211.2 million ($249.7 million in the same period in 2011) and the operating income was $23.7 million ($39.5 million), with net income growing by $3 million to a total of $4 million.
One of the bright points in what was otherwise a challenging first half-year for CME was the success of its online on demand service Voyo.
The company is likely to provide a figure for its take-up at the end of Q2 perhaps as soon as later today in a conference call.
CME has broadcast interests in six Central and East European markets.
