Telecinco posts 72.7% increase in net profits
Results attributed to RTVE channels' end to advertisingMADRID -- Telecinco, Spain's richest private broadcaster, posted a whopping 72.7% increase in net profits in the first half of the year to 107.4 million euros ($139 million) compared to the same period in 2009, the company announced Wednesday.
Net income in the January to June reporting period was 461 million euros ($600 million).
In a statement, the company belonging to the Mediaset group attributed the sterling results to a jump in ad revenue resulting from the end to advertising this year on channels belonging to pubcaster RTVE.
The company said it billed 442.5 million euros ($574.6 million) in gross ad revenue, of which 423 million euros ($549 million) came from channels Telecinco, LaSiete and Factoria de Ficcion.
Telecinco claimed it had consolidated its position as the audience leader among Spanish private channels with an average 15% share, or three percentage points over main rival Antenna 3.