Net income more than tripled to NRJ H1

NRJ Group said Monday net profit more than tripled in the first half of 2010, 9.8 million, thanks to its improved performance in its media activities in France, and anticipates a continued rise in revenue advertising.

The owner of radio NRJ, Nostalgie, Cherie FM and Rire & Chansons MFM and TV NRJ 12 NRJ Hits NRJ and Paris, said in a statement that its Media division and musical events, its core business, reached a result operating income up 29.3% to 21.2 million euros in the first six months of the year.

The TV division has meanwhile halved its current operating loss, $ 4.4 million over the period January to June as against 9.7 million a year earlier.

"During the months of July and August, the group recorded an increase in advertising revenues in France is expected to continue in September," said NRJ.

The group also said it will continue its efforts to control costs during the second half.

Improving outcomes poles Media events and TV and music and expenditure control have enabled NRJ offset the consequences of the decision of the musical "Cleopatra" with final performances took place in January.

The group had published in July sales down 0.6% in the first half of 2010, 165.2 million euros, impacted by the decision of this musical.

NextRadioTV, its main competitor, announced in late July up 19% of its turnover in the first half and an expected improvement in profitability of its activities, radio and television in the second half.

The action NRJ closed Monday down 0.48% to 6.27 euros, giving a market capitalization of nearly 523 million euros against 228 million more for NextRadioTV.

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