is this you? Claim your profile.
is this you? Claim your profile.
+ Get 10 Free Contacts a Month
It's free and takes 30 seconds
Vice President, Chief Finance Officer
rmer Employees Group. De La Salle Philippines. INFORMS. Institute of Public Utilities
Business Group Director
Chief Financial Officer
Nova Scotia Utility and Review Board
In a press briefing yesterday, ABS-CBN chief finance officer Miguel Jose Navarette said earnings were bolstered by ongoing improvement in the company's advertising business and the rising contribution of the subscription-based business.Consolidated revenues increased 14 percent to P14.5 billion in the first nine months of the yearâ€"driven by higher airtime revenues and sale of services, he said.Airtime revenues grew by a robust 23 percent to P9.9 billion on the back of improving ratings and higher advertising volume."ABS-CBN proves to be the nationwide leader in both audience share and ratings, enjoying an advantage of 11 and 4 percentage points, respectively over GMA," Navarette said adding that ABS-CBN's advertising minutes grew 15 percent from the first three quarters last year.Direct sales, which consist of both sale of services and sale of goods from subsidiaries, posted a 10 percent increase to P4.2 billion in the first nine months of 2007 on the back of the favorable performance of ABS-CBN Global and ABS-CBN Films.As of end-September, total subscriber base of ABS-CBN Global rose 18 percentâ€"translating to a 23 percent average annual growth in viewers over six years, said Navarette.ABS-CBN Films' average ticket sales per movie rose 22 percent to P110 million during the first nine months of the yearâ€"buoyed by the release of three films which grossed P496 million.Navarette said total net expenses for the first nine months of the year inched up 7 percent to P12.5 billion as the company continued to place a tight rein on costs.
"Given our performance, a net income of P1 billion for 2007 is achievable but we will certainly make a go for P1.5 billion," said ABS-CBN chief financial officer Miguel Jose Navarrete in a press briefing yesterday.Navarrete said first half earnings was bolstered by the ongoing improvement in the company's advertising business and the rising contribution of the subscription-based business.Gross revenues increased by 12 percent year- on-year to P9.2 billion, driven by higher airtime revenues and sale of services, he said.Navarrete said all five films did very well at the box office.
In a briefing yesterday, ABS-CBN chief finance officer Miguel Navarette said last year's performance and current ratings of the network's shows gives them the confidence that net income this year will reach P1 billion.He said gross revenues rose two percent to P17.39 billion last year as airtime revenues grew 3 percent to P10.66 billion.
In a statement, ABS-CBN Chief Finance Officer Miguel Navarrete said that he expects the company to register positive figures next year given its present position in the industry and the coming elections.Mr. Navarrete added that ABS-CBN is trying to address its signal problems to increase audience share, thereby closing the viewership gap with closest competitor GMA Network, Inc.Mr. Navarrete further noted that ABS-CBN has been working on its "creative media spending.
Gracing the inauguration of the Lingap Eskwela program (shown in inset) are Antipolo City First Lady Josefina Gatlabayan, former Manila Water Business Group Director Miguel Jose T. Navarrete, Antipolo City Mayor Angelito C. Gatlabayan, Councilor Ronald Barcena, Councilor Bobot Marquez and Rizal Business Area Manager Loida S. Diï¿±o.