* Advertising revenue down 23 percent in H1
* Keeps forecast of 13 percent fall in consolidated revenue
* CEO says July followed June trends on ad sales
* CEO says still strong pressure on ad prices.
(Adds CEO comments from call, details)
PARIS, July 24 (Reuters) - TF1, France's leading commercial television broadcaster, on Friday kept its cautious outlook in a still-tough advertising climate as it reported a plunge in first-half profits.
TF1's first half net profit fell 61 percent from a year earlier to 49 million euros ($69.57 million), while operating profit slumped 78 percent to 38 million euros. Sales fell 16 percent to 1.13 billion euros.
The global financial crisis has resulted in deep cuts to advertising budgets which have hit TV companies, advertisers and other media groups.
Chief Executive Nonce Paolini said during a conference call with analysts that July followed June trends on advertising sales but was "less difficult" than previous months.
There was still strong pressure on advertising prices in July and August, finance head Philippe Denery said.
TF1, which attracts around one-half of France's TV advertising spending, has also seen its audience share come under pressure from competing free digital terrestrial television (DTT) channels and the Internet.
Although French advertising group Publicis said earlier this week that it hoped the worst of the sector's downturn was behind it, French media group Lagardere said it still lacked visibility on the advertising market.
TF1 maintained its business plan of working on the basis that full-year consolidated revenues would fall 13 percent, saying it could not set more precise guidance.
"In the current economic environment, with visibility still poor, it is not possible to set full-year guidance for revenues," TF1 said in a statement.
The company said it had cut 31 million euros of costs in the first half, out of a planned 70 million euros of cost cuts for the full year.
TF1 shares closed down 2.2 percent at 8.65 euros on Friday, giving the company a market capitalisation of around 1.85 billion euros. Its shares have fallen around 17 percent since the start of 2009 and fell 43 percent last year.
French conglomerate Bouygues owns around 43 percent of TF1's share capital.
(additional reporting by Cyril Altmeyer)
($1=.7043 Euro) (Reporting by Sudip Kar-Gupta and Dominique Vidalon; editing by Karen Foster)