Previously known as Mediaset and controlled by the family of former Italian Prime Minister Silvio Berlusconi, MFE reported a group operating profit of 97.6 million euros ($101.3 million), compared with 275 million euros in January-September 2021.

That was slightly ahead of an analyst consensus provided by the company of 95.5 million euros.

MFE said advertising sales in its core domestic market fell by 2.5% to 1.31 billion euros in the first nine months as the macroeconomic environment worsened amid Europe's energy crisis after the post-pandemic rebound.

Costs in Italy rose by 5.7% to 1.32 billion euro in the January-September period.

However, the company said it was confident of achieving "positive" annual results and pointed to a "resilient performance" of its domestic advertising business so far in the last quarter of the year.($1 = 0.9635 euros)

(Reporting by Elvira Pollina, editing by Valentina Za)