Doğan Media reports third-quarter profit

ISTANBUL- Hürriyet Daily News

The new building of Doğan’s daily Hürriyet is seen in this company photo.

Doğan Media Group, a subsidiary of local conglomerate Doğan Holding, posted 11 million Turkish Liras in third-quarter profits, compared with 234 million liras in losses in the same period last year.

The revenue of the company was up 6 percent, reaching 560 million liras, according to the statement the company made to the Istanbul Stock Exchange. The consolidated revenue in the first nine months of the year increased 10 percent to 1.85 billion liras, Doğan Media said. “Consolidated advertisement revenues were on par with last year. Domestic printed press advertisement revenues were at the same level with last year and newspaper advertisement investment in Turkey contracted 4 percent in the first nine months,” the company said.

Other revenues
The earnings before interest, taxes, depreciation and amortization were recorded as 47 million liras in the same period, the company added. The company’s net revenues from other activities were at 170 million liras mainly due to the profit from the Hürriyet building and plot sale, the company said in its statement.