Spanish multimedia giant Grupo Prisa reported first half profits of $46.6m (PTS8,393m), a 40.7% rise over the same period last year. Operating revenues rose 86% to $470m (PTS87.5bn).

The first half of 2000 has been an important period for Prisa, which floated 20% of its shares to great success on June 26. In April, the group absorbed the Spanish-speaking world's biggest publisher, Santillana de Ediciones.

Also this year, Prisa upped its participation to 21.26% of multimedia subsidiary Sogecable, home of film production house Sogecine, rights and acquisitions arm Sogepaq, theatrical distributor Warner Sogefilms, exhibitor Warner Lusomundo and pay-TV outlets Canal Plus and CanalSatelite Digital.

Alongside Sogecable and Santillana, Prisa houses leading national newspaper El Pais, internet subsidiary, a joint music venture with Universal, bookstore chain Crisol, printing firm Mateu Cromo, and a handful of other publishing and media interests.

In 1999 Prisa's net profits were $89m (PTS14,241m), 73% greater than the previous year.