March 24, 2013

GMA Network Net Income Down 5%

GMA Network Inc. reported that their consolidated revenues have grown 6% YOY to P13.9 billion in 2012. Airtime sales which contribute 91% of gross revenues grew 7% to P12.7 billion.

However, due to increased depreciation and amortization, the company's net income declined 5% to P1.6 billion. The company expects 2013 net income to exceed 2012's. Sales for January and February are 30% higher than last year's figures.

Capex for this year is projected to be P900 million with P300 million carry over from last year.