MG Baltic Media's FY revenue down 12 pct to EUR 58 mln
MG Baltic Media, a media and telecoms group indirectly owned by Lithuanian businessman Darius Mockus, last year saw its consolidated revenue drop to 57.871 million euros, down 12.1 percent from 65.858 million euros in 2016.
Consolidated net profits jumped by 32.7 percent to 3.373 million euros, MG Baltic Media said in its 2017 annual report filed with the Center of Registers.
The group consists of Laisvas ir Nepriklausomas Kanalas, LNK Studija, Mediafon, Mediafon Carrier Services, Mediafon Datapro, Mediafon Technology, Mediafon Mobi and Mediafon Telco Solutions. The company also holds a 37 percent stake in Moldova's NP Base, 41 percent in A. Argentina's NP Systems and 50 percent Tunisia's Atlax.
The LNK Group, which broadcasts the LNK, BTV, TV1, Info TV and Liuks TV programs, last year posted 3.452 million euros in consolidated net profits, up 34.4 percent from 2.568 million euros in 2016. Its annual revenue rose by 5.2 percent to 25.937 million euros.
The telecoms group Mediafon saw its consolidated revenue fall by 21.1 percent to 31.795 million euros in 2017, from 40.276 million euros a year earlier. Net profits increased by 13.3 percent to 1.32 million euros.