Media conglomerate ABS-CBN Broadcasting Corp. ended 2009 with a 37% rise in core earnings, thanks to strong consumer sales and airtime revenues.
The Lopez-owned firm said core net income rose to P1.8 billion last year from P1.3 billion in 2008. Net income grew 23% to P1.7 billion from P1.4 billion.
ABS-CBN reported consolidated revenues of P24.85 billion, up 11% year-on-year, inclusive of full-year revenue contribution from unit Sky Cable totalling P3.72 billion.
Contributing bulk or 42% of revenues were consumer sales, which jumped 18% to P10.39 billion in 2009 from P8.80 billion in the 2008. These sales were mostly generated by units ABS-CBN Global (51%) and Sky Cable (34%).
Meanwhile, despite a deferral of airtime rate increases, advertising revenues grew 7% to P14.46 billion, with 92% coming from ABS-CBN's Channel 2, Manila Radio and Regional Network Group.
ABS-CBN said its earnings before interest, taxes, depreciation and amortization (EBITDA) reached P6.51 billion, 7% or P405 million better than the 2008 EBITDA of P6.11 billion.
For 2010, the company is eyeing a profit of P2 billion, representing a 17.6% year-on-year growth.
ABS-CBN is the Philippines' largest media firm with interests in radio, free-to-air and cable television, movie production and publishing. The company is a unit of conglomerate Benpres Holdings Corp.
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Indie actor : Brad Laurente
2 days ago
2 comments:
ABS CBN crave so much about their rating status. sa bagay after how many decades na silang nasa TOP 2. hehe! ganyan po talaga ang fieeling ng mga FIRST TIMERS. right? hehe! lubosin nyo na yan dahil panandalian lang yan...
KAPUSO pa rin holds the ACE!
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