Grupo Radio Centro announced results for Q2 and the first half of the year. Grupo owns and/or operates 15 stations, 12 in Mexico City, two in Guadalajara and Monterrey, and one FM in LA: KXOS-FM. Broadcasting revenue for Q2 totaled 235,834,000 Pesos, a 2.3% increase compared to the 230,431,000 Pesos reported for Q2 2011. This slight increase was mainly attributable to higher ad spend by the clients in Mexico, who purchased more airtime.
The Company’s broadcasting expenses (excluding depreciation, amortization and corporate expenses) for the second quarter of 2012 totaled Ps. 177,973,000, a 6.2% increase compared to the Ps. 167,542,000 reported for the second quarter of 2011. This increase was mainly due to higher commissions paid to the Company’s sales force and to advertising agencies due to the increase in broadcasting revenue and higher expenses related to KXOS-FM.
Grupo’s operating income for the quarter of 2012 totaled Ps. 48,899,000, an 8.7% decrease compared to the Ps. 53,533,000 reported for Q2 2011. This decrease was mainly due to the increase in broadcasting expenses described above.
The Company’s profit in Q2 totaled Ps. 23,061,000, a 40.7% increase compared to the profit of Ps. 16,387,000 recorded for the second quarter of 2011.
The Company’s broadcasting revenue for the six months ended June 30, 2012 totaled Ps. 477,546,000, a 13.9% increase compared to the Ps. 419,197,000 reported for the same period of 2011. This increase was mainly attributable to higher advertising expenditures by the Company’s clients in Mexico, who purchased more airtime during the first half of 2012 compared to the same period of 2011.
Grupo’s profit in the first six months of 2012 totaled Ps. 52,360,000, compared to a net loss of Ps. 909,000 for the same period of 2011.
