GMA Network eyes 10% hike in revenues by end-December

THANKS to this year’s mid-term elections, broadcasting giant GMA Network Inc. expects to grow its revenues by more than a tenth by year-end.

Felipe L. Gozon, the company’s chairman, said his group aims to increase its top line by 12 percent this year, as ad revenues from the elections this quarter were “substantial.”

“While the network experienced slight declines in revenues in 2018, I am confident this year will bring better financial results because of election-related revenues, as well as those from our recurring advertising sales. We target to increase our 2019 revenues by 12 percent,” he said.

Gozon noted ad revenues from a “presidential election” are higher compared to a senatorial race.

The whole TV industry has suffered crippling revenues due to declining ads in recent years, save for election periods.

For GMA, its consolidated revenues inched down by 2 percent to P15.24 billion in 2018 versus 2017, leading to a 9-percent decline in profits to P2.32 billion during the same comparative periods.

But for the first quarter of 2019, its net income surged by 69 percent to P721.76 million, as its revenues grew by 14 percent to P3.8 billion.

Operational expenses increased by only 4 percent.

In another development, Gozon said his group is celebrating a “milestone” in its digital journey with the official transmission of its digital TV using UHF Channel 15.

The network is currently in the final stretch of preparations for the launch of MyGMA Go, its mobile Digital Terrestrial Television (DTT) service that will “revolutionize content-consumption habits by combining digital TV viewing and the elements of mobile interactivity.”

These so-called dongles will be offered through a partnership with PLDT Inc. A total of 4 million devices will be covered by the contract.

The device, which will initially be available for android smartphones, will have a complimentary app so that users can watch “GMA’s exclusive channels that will include an secondary general entertainment channel, Asian telenovela channel, Korean music and variety channel, and a concert channel, and other free-to-air channels without a need for an active Internet connection.”

Gozon said this new device will have “features” that will enhance the viewing experience of consumers.  It will be launched within “the second half of the year,” he said.

https://businessmirror.com.ph/2019/05/16/gma-network-eyes-10-hike-in-revenues-by-end-december/

SM Prime set to launch 10 malls in 2 years

SM Prime Holdings Inc., the country’s largest integrated property developer, lined up 10 new malls for opening over the next two years.

SM Prime said in an offer supplement filed with the Securities and Exchange Commission it would open five malls in 2020, including SM City Daet, SM City Tanza, SM City Bataan, SM City Roxas and SM City Sorsogon.

These five new malls will have a gross floor area of 222,000 square meters.

SM Prime is also set to complete in 2020 the expansion of SM Mall of Asia Phase 4 with an additional GFA of 16,000 sqm.

The property firm said that in 2021, it would launch five shopping malls including SM Grand Central, SM City Tuguegarao, SM City Naga 2, SM City San Pedro, and SM Moonwalk Parañaque. These five malls have a total GFA of 223,000 sqm.

SM Prime said it was also expecting to complete by 2021 the expansion of three existing malls―SM City Clark, SM City Sta. Rosa and SM City Calamba with an additional GFA of 146,000 sqm.

It said funds for the new malls would come from the planned P10-billion peso bond offering slated this year.

SM Prime earlier said it would issue P10 billion in fixed-rate bonds representing the fourth and final tranche of the P60-billion bond shelf registration it filed in 2016.

SM Prime chalked up a net income of P8.8 billion in the first quarter, up 16 percent from P7.6 billion in the same period last year on the back of steady growth in rental revenues and residential sales.

Consolidated revenues posted a 14-percent increase to P26.5 billion from P23.3 billion a year ago, while operating income increased 17 percent to P13 billion from P11 billion.

The property firm attributed the company’s strong first-quarter performance to the consistent growth in rental income and higher residential sales.

The mall business, which accounted for 56 percent of the consolidated revenue, reported 8-percent revenue growth to P15 billion in the first three months from P13.9 billion in the same period last year.

The residential group also recorded a 23-percent increase in revenue in the first quarter to P9.2 billion from P7.5 billion a year earlier.

http://www.manilastandard.net/business/transport-tourism/294652/sm-prime-set-to-launch-10-malls-in-2-years.html