TF1 group 2018 first-quarter results

Consolidated revenue for the first quarter of 2018 was €499.3 million, versus €503.4 million a year earlier, a slight decrease of 0.8%. This comprised:
- advertising revenue of €368.7 million, up €2.7 million (0.7%) on the first quarter of 2017;
- revenue from other activities of €130.6 million, down €6.8 million year-on-year.

This reflects the fact that TF1 Studio2 had no films that went on theatre release in the first quarter of 2018, plus lower interactivity revenues due to an unusually tough comparative from the first quarter of 2017 (the gameshows: The Wall and Les 12 coups de Midi, and the World Handball Championships).
First-quarter 2018 current operating profit was €38.3 million, against €36.9 million a year earlier, a rise of €1.4 million. This improvement is linked to cost control, including the €3.5 million savings on cost of programmes.
The current operating margin rate rose by 0.4 of a point to 7.7%, compared with 7.3% a year earlier.
The Group posted an operating profit of €32.6 million, after charging €5.7 million of non-current expenses related to the amortisation of audiovisual rights remeasured in connection with the Newen Studios acquisition.
The overall result was a net profit attributable to the Group of €24.8 million, down €3.2 million. However,