Italian broadcaster MFE confident on 2022 results

div classBodysc17zpet90 cdBBJodivpMILAN Reuters – Italys biggest private broadcaster MediaForEurope MFE said it expected “positive economic results” this year partly thanks to its ability to quickly trim costs were the fallout form the Ukraine war curb advertising spending.p

pMFE said there had not been any significant impact on the advertising market so far from the conflict and ensuing higher energy and commodity prices, which are driving up costs for companies and could affect advertising spending.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe groups advertising revenues in Italy rose slightly yearonyear in the first quarter, it said in a statement on Thursday. p

pA rebound in advertising sales in MFEs domestic and Spanish markets, following a COVIDdriven slump in 2020, lifted profits last year at the group, previously known as Mediaset.p

pControlled by the family of former Italian Prime Minister Silvio Berlusconi, MFE said its 2021 operating profit rose by 52 to 476 million euros, in line with preliminary figures provided last month.p

pThe company also said it would propose to pay a 0.05 euro per share dividend.p

p

pp Reporting by Elvira Pollina, editing by Gianluca Semeraro, John Stonestreet and Valentina Zap

divdivdiv classBodysc17zpet90 cdBBJodivdivdiv