Mexican Cable Firm's Profits Rise

26 February 2009

MEXICO CITY: Megacable Holdings, Mexico's biggest cable TV operator, posted an increase in net profits of 21% to 1.85 billion pesos ($123m; €97m; £87m) in 2008, with its total sales also growing by 41% to 5.86 billion pesos.

The company had 1.5 million cable subscribers at the end of last year, up 200,000 on 2007, and also increased its total number of online subscribers by 11% to 427,190.

Its fixed-line telephone service also saw customer numbers more than double to over 265,000.

Austar, the Australian pay TV operator, has also reported an increase in earnings of 20% to A$209m ($135m; €106m; £95m) for the whole of last year.

Revenues also rose by 11% to A$632m from A$568m in 2007, with subscriber numbers growing by 8% over the year as a whole.

However, the company still recorded a net loss of A$74.7m for the year, largely as a result of losses based on interest rate swaps.

Data sourced from Wall Street Journal; additional content by WARC staff