MANILA – Manila Broadcasting Co., (MBC), the company behind radio stations YES! FM, DZRH, Love Radio, and Easy Rock, reported that its net profits were flat for the three months ended September 30 due to higher expenses.
While its third quarter operating revenue increased by 23.9% year-on-year to P261.93 million from P211.38 million, MBC only managed to pull its new profits up 2.5% from P20 million to P20.5 million.
MBC explained that it used its current income “to finance expansion and operation and paid its maturing obligations.” For 2015, the company set aside a bigger P75 million budget for expenses from 2014’s 50 million. This led to its operating expenses in the July to September period to increase 7.25% to P232.55 million from P182.75 million last year.
This brings MBC’s nine-month profit to P67.4 million, marking a 4.63% improvement from P64.42 million in 2014’s comparable period.
