GMA 7 Posts 1 Billion Peso Profit in Five Months
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GMA Network
GMA 7 posted a 1.087 Billion Pesos net profit for the first five months of 2009, or from January to May. The net profit is 22% higher than a year ago of P890 million. GMA Network, Inc. said the five-month good performance was largely due to good financial revenue in May. Net income for the month of May reached P360 million, or an increase of 48% versus last year.
GMA Kapuso Network gave a one and a half month midyear bonus for all regular employees and paid out P1.7 billion in cash dividends to its shareholders as a result of the spectacular revenue result.
GMA 7 said the outstanding revenue is because of the consistently high TV ratings in Mega Manila and Urban Luzon, which account for a huge part of the total Philippine Television market. GMA 7’s Chief Financial Officer Felipe S. Yalong further declared that GMA 7 is the most cost efficient for advertisers.
YAMAN!!!