Grupo Clarin net income up 172% in the first half of 2010

Aug. 12, 2010 - PRLog -- Grupo Clarín, the largest media company in Argentina, announced yesterday its first half and second quarter results for 2010. During the first half that ended June 2010, net income increased by 172% to Ps.247.1 million compared to Ps.90.9 million reported in 1H09. Quarterly net income reached Ps. 153 million, up 62.6% from Ps. 94.1 million in 1Q10 and 21.7% from Ps. 125.7 million in Q209.

Net sales increased by 9% to Ps. 3,516.1 million compared to Ps. 3,227.2 in 1H09, mainly due to ARPU and subscribers growth in the Cable TV and internet access segment, higher sales in the Printing and Publishing segment and partially offset by lower revenues in the Broadcasting and Programming segment.

Net sales in the Cable TV and Internet Access segment reached Ps. 2,280.2 in 1H10 compared to Ps. 2,055.4 in 1H09, an increase of 10.9%, while quarterly net sales increased 10.2% to Ps. 1,168.3 compared to Ps. 1,059.9 in Q2 2009. The growth is mostly attributable to an increase in subscription charges registered during the last twelve months and also reflects the growth in cable, broadband and digital subscribers.

Broadcasting and Programming segment saw its net sales decrease by 15% to Ps. 473.1 million in 1H10 compared to Ps. 559.8 million during the same period a year earlier. The decrease was primarily the result of lower sports programming sales due to the unilateral contract rescission by AFA, and was partially offset by higher sales at Canal Trece and in our racing car business.

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