Mexico City-headquartered broadcaster TV Azteca saw profits sink 65% in the first quarter due to major financing costs.
Azteca – the globe’s number two producer of Spanish-language programming – posted profits of 75 million pesos ($7.2m; €6.5m; £4.5m) for the quarter, down from 213m pesos in the same quarter a year earlier. Revenues rose 2% to 1.4 billion pesos, while EBITDA (earnings before interest, tax, depreciation and amortization) climbed 6% to 535m pesos.
However, the sinking value of Mexico’s currency meant Azteca faces a 93m-peso rise in the cost of servicing its debt.
Data sourced from: Financial Times; additional content by WARC staff