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. Last Updated: 07/27/2016

Hit Drama Boosts STS Q2 Profits

Entertainment television network STS Media said on Monday its second-quarter net profit more than doubled from a year ago as it got a ratings lift from hit drama series "If You Aren't Born Beautiful."

STS said in a statement that it earned $34.1 million in net profit for the second quarter of 2006, a rise of 133.5 percent from the second quarter of 2005.

The company, which raised $346 million when it floated on the U.S. Nasdaq in May, said its second-quarter revenues rose 83.2 percent to $102.8 million.

STS Media's combined audience share rose to 13 percent in the second quarter of 2006 from 11.5 percent in the second quarter of 2005, it said.

STS's all-entertainment and no-news format has helped it climb to fourth place in the Russian network ratings, behind state-backed Channel One, Rossia and NTV televisions, appealing to advertisers by attracting a young and relatively affluent audience.

"STS gets more revenue from its audience than the market on average," said Konstantin Belov, an analyst at UralSib.

STS said its strong second-quarter performance was largely thanks to its "If You Aren't Born Beautiful" primetime drama, a version of Colombian hit series "Betty La Fea" which generated an average audience share of 30.9 percent.

That will be a tough act to follow, the company warned.

STS's earnings before interest, taxes, depreciation and amortization rose to $54.4 million from $26.4 million in the second quarter of 2005.