StockMarketWire.com - Grupo Clarin has reported earnings (EBITDA) for the first half of the year of Ps. 301.4m, down 21.1% from the same period last year.

It said this was mainly driven by the implementation of a strategic cost reduction plan, focused on rightsizing the Company in order to reach a more flexible structure.

Grupo Clarin's Adjusted EBITDA Margin for 2016 was 4.8%, compared to 7.9% in 1H16.

Net Sales totaled Ps. 6,281.8m, an increase of 30.0% from 1H16, mainly due to higher advertising and programming sales in the Broadcasting and Programming segment and, to a lesser extent, driven by higher circulation and advertising revenues in the Printing and Publishing segment.

Income for the period totaled Ps. 2,443.4m, an increase of 18.4% from 1H16, and the Income for the period attributable to Equity Shareholders amount to Ps 1,494.2m.






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