MONTREAL — TVA Group posted a $936,000 profit in the first quarter ended March 31, 2007, compared with a loss of $2.7 million in the same quarter a year ago.
The Quebecor Media subsidiary also announced May 4 that its revenues had increased by 2.6% to $93.3 million, while expenses decreased slightly to $90.6 million.
The turnaround was attributed to a $2.6 million growth in operating income in the television sector compared with the same quarter last year. The increase resulted from a 52.6% growth in operating income for TVA’s specialty TV channels, a 21% increase in the operating income of TVA network and a decrease of 31% in the operating loss of SUN TV. SUN TV’s operating loss was down due to a 16.1 % growth in its operating revenues coupled with a 7.2% decrease in operating expenses.
“Our strategic plan of reducing operating expenses is well under way. Our teams of professionals are stepping up their efforts to counter the fragmentation of the conventional television market, and our ratings in recent weeks confirm our position as the leader in the francophone television market in Quebec,” said TVA Group president and CEO Pierre Dion. “Our specialty channels are developing well, and we are pursuing growth in this sector. As well, SUN TV is on the right path, although much remains to be done.”
TVA’s publishing sector also registered a significant improvement in profitability on revenues that grew 1.7% and operating expenses that were down 12%.
