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Thursday, January 1, 2015

ABS-CBN'S H1 PROFITS DOWN BY A FIFTH!

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MANILA – ABS-CBN Corp's first half earnings decreased by over a fifth on the absence of election-related earnings this year.

The Lopez-led broadcasting firm said in a report that its profit went down 22.9 percent to P995 million in the first six months of the year from P1.29 billion in the same period in 2013.

The decrease was largely brought about by last year's election-related advertising spendings, which chalked up 54 percent of the Januuary-June 2013 earnings.

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