Megacable profits rise nearly a quarter on new subscribers

Reuters

MEXICO CITY, Oct 28 (Reuters) - Mexican cable operatorMegacable Holdings said on Monday thatthird-quarter profit rose 22.7 percent from the year-earlierquarter, as the company signed up more new subscribers.

The Guadalajara-based firm, one of Mexico's largest cableoperators, reported a profit of 565.6 million pesos ($43million), up from 460.9 million pesos in the third quarter of2012.

Quarterly revenue climbed 9.6 percent to 2.47 billion pesosfrom 2.26 billion pesos a year earlier.

Megacable said it signed 124,000 new subscribers over thequarter, up 6 percent on the number from the same period lastyear.

Megacable shares closed flat at 42.68 pesosbefore the results were announced.

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