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Broadcaster CME sees 2015 OIBDA growth at higher end of forecast range

Reuters

PRAGUE (Reuters) - Central European Media Enterprises (CME) (CETV.O) (CETV.PR) expects full-year core profit (OIBDA) to grow in 2015 at the higher end of its previously forecasted range of 45-55 percent at constant exchange rates, the television broadcaster said in a presentation on Tuesday.

For the full year it expects free cash flow towards the higher end of a $45 million-$55 million (29-36 million pound) forecasted range at actual exchange rates.

CME posted operating income before depreciation and amortisation of $95.4 million in 2014.

It reported on Tuesday OIBDA nearly tripled year on year to $8.4 million in the third quarter, although it missed analyst expectations, causing shares to fall.

(Reporting by Jason Hovet; Editing by Jan Lopatka)