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Central European Media Jumps on Report Earnings Improved

Jan. 23 (Bloomberg) -- Central European Media Enterprises Ltd. jumped the most in three months after a report that the company’s 2011 Oibda, or operating income before depreciation and amortization, probably rose 60 percent from a year ago.

The shares of CME, as the broadcaster is known, surged 7.2 percent to 141.5 koruna at the close in Prague, its biggest one-day rally since Oct. 21. The company’s U.S.-traded shares climbed 5.2 percent to $7.14 by 11:47 a.m. in New York.

CME has a “sufficient” liquidity of $200 million in cash, and a debt payment of $130 million due next year is not a problem, Chief Executive Officer Adrian Sarbu told Hospodarske Noviny in an interview published today.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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