Megacable first quarter net profit up 21% on forex gain

27 Apr 2010

Mexican cableco Megacable has posted a 21%% year-on-year increase in net profit to MXN475 million (USD39 million) for the three months ended 31 March 2010, helped by an appreciation in the peso versus the US dollar. The operator also revealed that in the first quarter of 2010 revenue rose to MXN1.85 billion, up 7% compared to the MXN1.72 billion it generated in the same period a year earlier; while revenue from its cable TV operation remained flat, turnover from its high speed internet and telephony services rose by 11% and 31% against 1Q09 respectively. Earnings before interest, tax, depreciation and amortisation (EBIDTA) meanwhile were up 4% y-o-y to MXN800 million.

In terms of subscribers, at end-March 2010 Megacable reported 531,764 high speed internet customers, up from 437,081 a year earlier, while it also had 425,361 telephony subscribers at that date, up 39% from the 305,690 it had at March 2009. According to the cableco, at the end of its first fiscal quarter of 2010 its network had expanded to pass more than 4.7 million households, stretching for some 32,445km, with 92% of its infrastructure two-way enabled.

Mexico, Megacable