Mexican radio broadcasting company Grupo Radio Centro, S.A.B. de C.V. (RC) reported Friday that its third-quarter net income, on IFRS basis, more than doubled to 31.11 million Mexican peso or $2.32 million from prior year's 11.99 million peso.
Income before income taxes grew 77.4 percent to 52.88 million peso or $3.94 million from 29.81 million peso a year ago.
The company's broadcasting revenue in third quarter totaled 255.22 million peso or $19.02 million, a 12.9 percent increase from 226.15 million peso last year, mainly attributable to higher advertising expenditures by its clients in Mexico who purchased more airtime during the quarter.
RC last traded on October 13 at $7.20.
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