ECONOMY

State broadcaster shows 4.8-mln-euro loss for 2008

State broadcaster Greek Radio & Television (ERT) reported a loss of 4.8 million euros for 2008, with earnings figures weighed down by costs from a previous staff retirement scheme, it said yesterday. ERT, which operates television and radio stations including ET1 and NET, said operating profit for the year reached 572,661 euros, without the cost of the retirement plan. The broadcaster said revenues last year hit 366.6 million euros, while the cost of sales were 320.4 million euros. Just over three-quarters of ERT’s revenues, some 300 million euros, come from a separate charge households pay in electricity bills which is passed on to the broadcaster. About 15 percent of sales come from advertisements and sponsorships with the balance coming from other sources.