GMA Network breaches P2B net income target for 2015
MANILA, Philippines – The head of GMA Network, Incorporated said his company breached its P2-billion ($42.10-million) net income target for 2015, thanks to higher airtime revenues.
The network's 2015 net income is also more than double its net income of P1 billion ($21.05 million) in 2014.
"[Financial performance in 2015 is] very good. Net income after tax is more than 100% of 2014. [It registered] more than P2 billion ($42.10 million)," GMA Network President and CEO Felipe Gozon said on the sidelines of the company's trade launch in Makati on Wednesday night, February 10.
The listed broadcaster's bottom line from January to September 2015 stood at P1.8 billion ($37.89 million), almost 80% higher than in 2014.
Its operating expenses in the first 9 months inched up by 2% to P7.68 billion ($163.59 million), as total production cost grew by 5%.
2016: Better than 2015
For 2016, GMA Network is confident that it will finish the year on a better note in terms of revenues.
"Yes, we expect 2016 to be better than last year. In fact, January and this month [are showing] better [results]…election-related revenues [are taken into account]," Gozon said.
For election-related revenues, Gozon said, without divulging details: "At the moment, we are getting more placements than our competitors."
The broadcast giant also said its local news website GMA News Online breached the one-billion pageviews mark in 2015, citing recent data from Effective Measure.
Last year, the network laid off workers in provincial stations. It said it was "in the process of undertaking a strategic streamlining of programs and manpower... to ensure business competitiveness." – Rappler.com