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GMA Network sees P2B in income this year.
(From Philippine Daily Inquirer)
Byline: Clarissa S. Batino
GMA Network Inc. is expecting to hit a net income of P2 billion this year, with revenue seen reaching P9 billion.
GMA Network president Felipe Gozon said the company was banking on the projected 15-percent increase in airtime revenue and on the improvement of its cost efficiency to achieve a 33-percent jump in profit, from P1.5 billion last year.
"We are assuming that we will continue to be No.1," said Gozun.
He said GMA Network had exceeded its revenue target of P7.5 billion last year and met its P1.5-billion profit target due to robust airtime sales.
Gozon said the company's revenue topped the target by about 3 to 4 percent but higher production spending clipped some of the gains.
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