Prisa Q1 net 21.4 pct lower at 24.19 as costs offset strong revenues UPDATE |
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Thu, 19 Apr 2007 18:36
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(Updates with more detail on costs, revenues)MADRID (Thomson Financial) - Promotora de Informaciones SA said first quarter to March net profit was down 21.4 pct at 24.19 mln eur from 30.78 mln a year earlier, as costs associated with acquisitions subdued strong advertising revenues.In a statement the media group said profits were hit by 45.27 mln eur costs related to stake-building in its Sogecable SA unit and Portuguese media group Grupo Media Capital SGPS.These costs offset an 85.7 pct increase in advertising revenues to 242.98 mln eur, which boosted EBITDA to 154.97 mln eur, up from 79.57, exceeding analysts' expectations of between 124-149 mln.Stripping out the effect of Sogecable and Media Capital, advertising income was up 15 pct, Prisa said.tfn.europemadrid@thomson.comcve/gpCOPYRIGHTCopyright 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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Prisa must launch bid for Media Capital at 8.29 - CMVM 