MONTREAL – Astral’s television and out-of-home divisions helped to push up first quarter profits and revenues.
For the period ended November 30, 2011, consolidated revenues were $271.1 million, a 2% increase over the $267.1 million recorded last year for the same period. EBITDA grew 1% to $90.4 million, while consolidated net earnings were up 5% to $55.8 million from $53.1 million last year.
The Montreal-based company said Thursday that 1% and 3% increases, respectively, in television advertising and subscriber-related revenue contributed to the division’s revenue of $153.6 million, a 3% increase. Astral added 9,000 new pay-television subscribers for The Movie Network and Super Écran over the course of the first quarter.
Radio revenue declined 4% to $88.3 million, while out-of-home revenue grew 13% to end the quarter at $29.3 million.
“Once again, our balanced asset mix and geographical footprint enabled us to display continued consolidated growth at all levels, achieved in spite of the challenging economic and advertising conditions in which we operate," said president and CEO Ian Greenberg, in a statement. "While we remain in a low visibility environment, I am confident that the ongoing efforts to strengthen our multiplatform offering and presence in key markets, combined with new television distribution agreements and continued investments in our brands, provide us with the optimal conditions to achieve our goals."
