Mexico’s second biggest television broadcaster TV Azteca yesterday posted net profits of 352.4 million pesos ($36.2m) for last year, a drastic improvement on its 154.1m peso loss for 1999.
Total sales for 2000 rose from 4.48 billion pesos in 1999 to 5.43bn pesos, while operating profit jumped 1.58bn pesos from 1999’s total of 970.4m pesos.
TV Azteca attributed its profitability uplift in part to a rise in audience share. This jumped to 34.1% in Q4 compared to 29.5% in the equivalent quarter in 1999. A rise in ad rates also helped to boost sales, which climbed from $128m in Q4 1999 to $152m a year later. The jump in sales helped push Q4 net profits to $60m.
The company also announced it received $6.4m in the fourth quarter as part of its US joint venture Azteca America, due to launch in Q2 this year targeting the US Hispanic population.
News source: Wall Street Journal