Five parent company RTL Group saw pre-tax profits grow in Q3 by 22% helped by higher profits from its UK subsidiary.  

The Luxembourg-based media giant said EBITDA was €92 [£83m] for the last quarter, up from €75m [£67m] year-on-year.

However, revenues were down 5% year-on-year to €1.13bn [£980m] as it said TV advertising markets across Europe decreased “significantly year on year”.

Although RTL Group did not publish revenues for Five, it said the broadcaster was one of its European TV channels that posted “higher profit contributions”.

Meanwhile, the firm said that its “strong focus on cost cutting” in its core TV businesses “continues to yield positive results”.

RTL Group is majority-owned by German media conglomerate Bertelsmann. It has 45 television and 32 radio stations in 11 countries.

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