GMA expects to bounce back after dismal 1st half
Broascasting firm GMA Network Inc. expects to post better financial results in second half despite a challenging business environment.
GMA saw a 21.percent decline in its first half earnings to P1.23 billion. Revenues went down six percent to P7.24 billion as consolidated airtime sales fell seven percent to P6.39 billion.
” This year saw a notable contraction in television placements from advertisers, which was felt across the broadcasting industry,” GMA said.
Radio and regional TV operations, however, recorded an improvement in their topline.
The company’s international operations, subsidiaries and other businesses generated P856 million in revenues.