Mafra Profits Fall 69% Year Over YearČTK
Prague, Aug 3 (CTK) – Media group Mafra saw its profit fall by 69 percent year on year to Kc74.4m in 2017, while its revenues from sales of products and services rose by 1.5 percent to Kc2.5bn, server Mediaguru.cz said today, referring to Mafra’s annual report.
Mafra considers its 2017 result favourable. It was achieved thanks to stable revenues from advertising in printed media and an increase in advertising revenues in the on-line segment, which constitutes an important source of growing effectivity of the entire group, according to its annual report.
A contribution to the business result also came from previous restructuring, the server said.
Mafra showed a moderate decrease in the area of distribution but maintained revenues from printed ads thanks to the growing impression of titles distributed free, the server noted.
Mafra is part of Agrofert group, which had been owned by Prime Minister and ANO movement head Andrej Babis until February last year. Babis transferred the whole group to a trustee fund because of the law on conflict of interest.
Mafra publishes daily newspapers Mlada fronta Dnes, Lidove noviny and Metro and weekly Tema, and it runs printing houses in Prague and Olomouc and online servers iDnes.cz and Lidovky.cz. The group also includes radio stations Impuls and Rockzone.