CENTRAL EUROPEAN MEDIA ENTERPRISES Q1 Sparkling results

CENTRAL EUROPEAN MEDIA ENTERPRISES in which Ronnie Lauder friend of Ariel Sharon and Apax Enterprises (Prop Lord Cohen friend of Gordon Brown)are major shareholders has published spanking Q1 results (end 31.3.07)

Compared to the first quarter of 2006, net revenues for the first quarter of 2007 increased 24 % to US$147.9 Mn.

Operating income for the quarter increased US$3.1 Mn. to US$19.3 Mn. In the quarter, net income from continuing operations increased US$14.2 Mn.

Consolidated results for the first quarter of 2007 include Markiza in the Slovak Republic, which was not consolidated until January 23, 2006.

Michael Garin, Chief Executive Officer of CME, said, "CME continues to perform to exceptional standards. We anticipate EBITDA growth in excess of 35% this year for our Broadcast Operations, which once again will make us one of the fastest growing broadcasters in the world."

For previous posts on this fascinating media company go here

The shares rose US$5.39 at 3.00 BST up 5.92% to US$96.5 (Graph up to close of Business 2/5/07)