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Turnover and profit soar at PRISA (Beneficio de dos digitos en 2007)(El Pais Via Thomson Dialog NewsEdge) PRISA, the Spanish media group, registered a 89.6 per cent turnover increase to around 2.81bn euros last year and saw group net profits rise by 49.8 per cent to 228.9m euros compared with 2005. Ebitda increased by 69 per cent to 531.46m euros in 2006, while ebit was up 30.7 per cent at 285.95m euros. Chief executive Juan Luis Cebrian said at yesterday's AGM that 2007 had started well for PRISA and forecast that operating profits would again increase by a double-digit figure. Mr Cebrian admitted that PRISA's debts had risen substantially in connection with the public takeover offers for Spanish company Sogecable and Portuguese competitor Media Capital and added that the group would sell off some marginal operations. Meanwhile, shareholders approved a 21.1m-euro capital increase and a 14.3 per cent dividend increase to 0.16 euros per share for 2006. Abstracted from El Pais Copyright 2007 Abstracted by The Financial Times Ltd. All rights reserved. |