GMA Network rakes in P2B profit
Posted: 5:14 PM | Feb. 23, 2006
XFN-Asia
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GMA Network Inc. said it made a net profit of two billion pesos in 2005, up 33 percent from the previous year's 1.5 billion, despite disappointing advertising revenue in the last quarter.
"Fourth quarter was below our targets but we still managed to achieve higher net income and revenue for 2005 because of our strong performance in the first three quarters of the year," GMA president and chief executive officer Felipe Gozon told reporters.
Full-year revenue grew 20 percent to 9.4 billion pesos from 7.8 billion in 2004.
GMA operates television and radio stations and is also engaged in music-recording and film-making. It has consistently been taking a larger share of the Philippines television audience, beating main rival ABS-CBN Broadcasting Corp.
GMA aims to raise at least six billion pesos from an initial public offering this year, involving 20 percent of its authorized capital stock.
PALUGI NA ANG ABS-CBN!!!
Number Two na lang sila sa Pilipinas (Ayon yan sa XFN-Asia).
Masdan ang value ng shares ng ABS:
http://www.pse.com.ph/html/MarketInformati...uritySymbol=ABSPABABA nang PABABA!!!!