BUENOS AIRES (Dow Jones)–Argentine media conglomerate Grupo Clarin SA (GCLA.BA) reported Thursday that its second-quarter net income totaled 163.8 million pesos ($39.4 million), up about 7% from ARS153 million a year earlier.
Net sales rose 26% to ARS2.35 billion from ARS1.87 billion a year ago, the company said in a statement.
Net sales from cable television and Internet access rose 28% to almost ARS1.5 billion from ARS1.16 billion a year earlier. Higher sales in print, publishing and broadcasting also helped lift revenue.
Grupo Clarin said net income for the first half of 2011 was up 27.6% to ARS315 million versus ARS247 million a year ago.
«Total Consolidated Cable TV basic subscribers reached 3,414,164 as of June 2011, compared to the 3,312,181 reported for the same date in 2010,» Grupo Clarin said.
The number of Internet subscribers totaled 1,219,630 in June 2011, up from 1,055,801 a year earlier.
Selling and administrative expenses soared by 44% to ARS655 million in the first half, compared with ARS455 million a year ago.
-By Taos Turner, Dow Jones Newswires; 5411-4590-2421; taos.turner@dowjones.com
Source: online.wsj.com