SOGECABLE REPORTS 25% SALES INCREASE
MADRID: Spain's Sogecable saw revenues increase by 25% to $440m (PTS77.1bn) in the first six months of 2000 compared to the same period last year. The company, whose shares have gained in value by more than 80% since their debut on the Spanish stock exchange in July 1999, plans to invest more than $122m in TV and cinema production during 2000.
KIRCH MEDIA PRE-TAX PROFIT UP 41%
BERLIN: Kirch Media has reported a 41% increase in pre-tax profit for the 1999 financial year to $374m (DM789m). Turnover was up 7.3% to $1.88bn (DM3.97bn). The Kirch division, which is seeking a stock market listing in the second half of 2001, attributed the rise to increased rights trading activities and growth in advertising revenues from broadcasters Sat1, ProSieben and DSF.
ADVANCED INTERIM TURNOVER LEAPS 500%
BERLIN: Advanced Medien's half-year turnover jumped 500% to $21.3m (DM45m) with revenues from the German market up 450% to $17.5m (DM37m). LA-based production and sales operation Unified Film Organization (UFO), in which Advanced acquired a 51% stake earlier this year, contributed $3.8m (DM8m) to the total revenue figure. Advanced's full results will be announced on August 28.
TERRA LOSSES DEEPEN AS OPERATING COSTS RISE
MADRID: Terra Networks, the internet division of Spanish telecoms and multimedia giant Telefonica, reported a net loss of Euros168m in the first half of 2000, up from Euros72m in the first half of 1999. Terra said the increased losses were partly due to operating costs which rose 142% in the company's attempts to build a presence in Brazil. Terra claims 730,000 Brazilian clients and 1.3 million in Spain. Revenues rose 177% to Euros83.6m.
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