1999 earnings announcement
1999 EARNINGS ANNOUNCEMENT Modern Times Group MTG AB (Nasdaq: MTGNY) announces preliminary earnings for 1999 today, Monday February 21, 2000. * SALES WERE UP 23% FOR THE FULL YEAR. * OPERATING INCOME AFTER DEPRECIATION AND AMORTIZATION IMPROVED 74%, TO SEK 285 MILLION, EXCLUDING CAPITAL GAINS IN 1998. * THE BROADCASTING AND PUBLISHING BUSINESS AREAS REPORTED THEIR BEST PERFORMANCE TO DATE. * THE NEWSPAPER METRO OBTAINED CONTRACTS IN TWO COUNTRIES IN 1999 AND SECURED DISTRIBUTION AGREEMENTS IN FOUR OTHERS. * ELECTRONIC RETAILING REPORTED A LOSS AS A RESULT OF LESS ACCESS TO BROADCAST TIME