ON THE REBOUND In the Philippines, leading network GMA is celebrating stellar half year results, including a leap in consolidated revenues by more than ₱2 billion/US$35 million compared to last year.

Consolidated top line was ₱10,096 million/US$176.8 million – up from ₱7,805 million/US$136.7 million last year. Net income was up more than 220%.

Among other contributing factors, management talked about “conscious spending company-wide”. EBITDA closed June 91% up at ₱3,797 million/US$66.5 million.

Advertising revenues rebounded, reaching ₱9,285 million/US$162.6 million – up 29% compared to the same period last year – driven primarily by mid-term political elections in May.

First-half production costs (composed of cash and non-cash direct costs) were up 10% to ₱4,204 million/US$73.6 million.