First Media turned positive
PT First Media (KBLV) Tbk, controlled by Lippo Group, posted net profit of Rp32.8 billion last year against net loss of Rp101.7 billion in 2008 on stronger sales revenue and improved operating margins.
First Media, operator of cable TV Kabelvision, reported net sales revenue of Rp722.46 billion last year, surged 36.2% from 2008 while its cost of services increased slightly by 12.7% to Rp293 billion. As a result, First Media posted gross profit of Rp429.36 billion, soared 60% from 2008. But the company reported substantial increase of 31.4% in operating expenses to Rp364.7 billion. First Media then booked operating profit of Rp64.7 billion against loss of Rp8.7 billion in 2008.
First Media reported strong growth of revenue from subscription fees for broadband Internet to Rp331.6 billion, surged 73% from 2008, while subscription fees for cable TV reached Rp255 billion last year, grew by 15.8% from 2008. Data communications revenue also jumped 37.5% last year.