Sogecable Q1 net profit 1.2 mln eur vs 20.1 mln loss a year earlier UPDATE |
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Tue, 17 Apr 2007 18:29
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(adds detail on advertising revenues, operating costs and subscriber growth)MADRID (Thomson Financial) - Sogecable SA said it posted a first-quarter to March net profit of 1.2 mln eur, up from a net loss of 20.1 mln a year earlier, as strong growth in advertising revenues offset higher operating costs.In a statement, Sogecable said advertising revenues from its Cuatro channel doubled to 58.1 mln eur from 28.9 mln a year earlier, following an increase in market share to 7.7 pct in March, reaching 7.8 pct during peak viewing times.Meanwhile group operating costs were up 6.5 pct to 416.2 mln eur in the first-quarter, mostly attributed to spending on the subscriptions business.Net subscriber growth reached 21,000 clients, firmly beating analysts' expectations of around 20,000 following a reduction in cancellation rates to 10.9 pct from 12 pct.The growth in business volumes helped push first quarter EBITDA to 62.6 mln eur, from 46.7 mln, ahead of market expectations between 40.9-59.6 mln.Total revenues of 478.8 mln eur, from 437.5 a year earlier were also ahead of forecasts between 461.9-476.9 mln.tfn.europemadrid@thomson.comcve/jagCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Sogecable Q1 net profit 1.2 mln eur vs 20.1 mln loss a year earlier 