Mexico's Megacable says Q4 profit up 34.4 pct

MEXICO CITY Thu Feb 21, 2013 9:38pm EST

MEXICO CITY Feb 21 (Reuters) - Fourth-quarter profit at Megacable Holdings, one of Mexico's largest cable operators, rose 34.4 percent year-on-year, helped by deferred taxes and foreign exchange gains, the company said on Thursday.

The Guadalajara-based firm reported a profit of 478 million pesos ($37.17 million), up from 356 million pesos in the fourth quarter of 2011.

Quarterly revenue climbed 5.5 percent to 2.28 billion pesos ($177.12 million) from 2.16 billion pesos a year earlier.

Megacable's tax liability during the fourth quarter dropped 60.9 percent to 74 million pesos, compared with a 189 million peso tax bill for the year-ago quarter.

The company said for the year ending in December 2012 it counted 2.1 million video subscribers, up 8 percent from 2011.

Megacable shares closed down 0.18 percent at 33.970 pesos before the results were issued.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.