Mexico's Televisa second quarter net profit rises 31 percent

MEXICO CITY | Tue Jul 9, 2013 5:23am BST

MEXICO CITY (Reuters) - Mexican media company Grupo Televisa, the world's biggest producer of Spanish-language content, said on Monday lower financing costs helped boost its second-quarter net profit nearly 31 percent from the same year-ago period.

Televisa reported a net profit of 1.826 billion pesos (94.3 million pounds) compared to 1.396 billion pesos in the year-earlier quarter. Revenue rose 6.4 percent to nearly 18.1 billion pesos.

Televisa's investment costs soared in the second-quarter of 2012 due to its acquisition of 50 percent of cellphone company Iusacell from Grupo Salinas, which controls Mexico's No. 2 broadcaster TV Azteca.

Financing costs in the second quarter fell by 963 million pesos compared to the same period last year to under 1.2 billion pesos.

Televisa shares are down nearly 9 percent so far this year after lawmakers passed a law that seeks to increase competition in the television market. Analysts warn the stock could face further pressure as a more powerful regulator comes into office.

(Reporting by Michael O'Boyle; Editing by Clarence Fernandez and Miral Fahmy)

Source: http://uk.reuters.com/article/2013/07/09/uk-mexico-televisa-idUKBRE96804Q20130709?feedType=RSS&feedName=internetNews

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