Cofina media group sees profits double

Page created: Wednesday, 29 October 2014 9:01 GMT

Cofina   Financial Results

Profits at the media group Cofina were up 202% year-on-year with the group making €4.7 million in profit in the first nine months of 2014 according to a statement sent to the CMVM stock market regulatory authorities on Tuesday.

Cofina said that its EBITDA result was up 12.9% to €10.9 million with operational revenues down 0.3% to €78.3 million.

Read more

However, that figure masked a 5.7% surge in advertising income, to €26.5 million, with alternative marketing and other contributing an additional 2.3% to close the three quarters on €10.6 million and all helping to offset a 4.5% fall in circulation based income to €41.3 million.

This came about despite a 0.5% increase in newspaper sales, generating €62.8 million, as magazine sales brought in 3.3% less turnover at €15.5 million.

Operational costs were also down 2.2% to total €67.3 million: the price paid for publishing newspapers such as Correio da Manhã and Jornal de Negócios, magazines including Sábado as well as the CM TV station.