GMA Network income down
Lawrence Agcaoili (The Philippine Star) - August 15, 2014 - 12:00am

MANILA, Philippines - GMA Network Inc. said its net income plunged a 49 percent to P580 million in the first half of the year from P1.13 billion in the same period last year as revenues slipped 14 percent to P5.77 billion due to the absence of election-related advertisements.

The broadcast firm booked P744 million worth of political ad revenues last year.

Despite the decline, GMA chairman and CEO Felipe Gozon said he is confident the company could match last year’s earnings even without the non-recurring political advertisements.

The company’s net income grew three percent to P1.67 billion last year from P1.62 billion in 2012 as revenues rose seven percent to P12.95 billion from P12.08 billion.

 “Our target is the same as last year or even more considering that there are no political ads this year,” he said.

                                    

ADVERTISEMENTS BILLION FELIPE GOZON LAST NETWORK INC POLITICAL REVENUES YEAR
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with