CME shares hit record in Prague after Q3 results

PRAGUE, Nov 9 (Reuters) - Shares of Central European Media Enterprises Ltd. (CME) <CETVsp.PR> hit a record 1,754 crowns ($79.91) on the Prague bourse on Thursday after the Bermuda-based firm reported favourable third quarter results and a confident outlook.

CME, which also trades on Nasdaq <CETV.O>, reported third quarter revenues of $112.5 million, slightly below the average forecast in a Reuters poll of $114.4 million but well above the $87.1 million posted for the same period last year.

CME also said it remains confident in its 2006 guidance and was looking forward to an even stronger 2007.

The 3.6 percent rise in CME shares outpaced the Prague blue-chip PX index <.PX>, which was up 0.62 percent.

((Reporting by Alan Crosby; prague.newsroom@reuters.com; Reuters Messaging: alan.crosby.reuters.com@reuters.net; +420 224 190 477))

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Keywords: MEDIA CZECH CME SHARES