Doğan Media Group’s ad revenue falls

Doğan Media Group’s ad revenue falls

Bloomberg
The net loss increased to 165 million Turkish Liras from 92 million liras a year earlier, the company said in an e-mailed statement late Thursday. Sales declined 16 percent to 546.6 million liras.

Advertising revenue at DMG dropped 28 percent to 145.5 million liras in the quarter, according to a statement the company posted on the Web site of the Istanbul Stock Exchange.

"We believe the pace of contraction in advertising will smoothen in the following quarters," CEO Mehmet Ali Yalçındağ said. DMG expects the Turkish economy to begin to recover in the second half of the year.

Hürriyet Daily News is a Doğan Media Group publication
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