RP's leading broadcast company posts earnings as revenues rise

MANILA, Philippines - The Philippines’ leading broadcast network said earnings for the first six months this year rose as revenues increased. GMA Network Inc., which runs the country’s first and third-ranked television channels, said income from January to June reached P1.13 billion, higher than P1.11 reported during the same period last year. Revenues climbed four percent to P5.883 billion, the company said during a Thursday afternoon briefing at its Quezon City headquarters. Expenses also increased six percent to 3.348 billion. GMA Network Inc. also owns GMA New Media Inc., a company which manages GMANews.TV. Share prices of GMA remained unchanged at P6.30 apiece during Thursday’s trading at the Philippine Stock Exchange. - Anna Barbara L. Lorenzo, GMANews.TV