Cablemas reports 14% drop in net profit for 2Q

1 Sep 2008

Cablemas, Mexico’s second largest cable TV operator, has released financial results for the three months ended 30 June 2008, reporting a 14.5% year-on-year drop in net profit for the period; the operator attributed the fall to rising costs relating to its expansion of services. Net profit for the quarter was MXN41.5 million (USD4.04 million) compared to MXN48.6 million in 2007. Meanwhile, Cablemas generated net revenues of MXN770 million, a rise of 14.1% for the period y-o-y, with expectations that this growth will continue as the operator prepares to launch triple-play services in up to nine more cities in this fiscal year, adding to the 46 cities where it currently operates. Cablemas reported subscriber growth of 10.3% and 122% for its internet and telephony services respectively; total subscribers reached 1.1 million at the end of the period.

Mexico, Cablemas (Izzi/Wizz)