Reuters: Financial Services and Real Estate: Mexico's Megacable posts 10 pct rise in Q1 profit y/y

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Mexico's Megacable posts 10 pct rise in Q1 profit y/y May 3rd 2012, 02:33 Wed May 2, 2012 10:33pm EDT MEXICO CITY May 2 (Reuters) - Megacable, one of Mexico's largest cable operators, posted on Wednesday a 10 percent annual rise in first quarter profit, supported by new subscribers. The Guadalajara-based company said net income in the first quarter rose to 592 million pesos ($46 million) from 537 million pesos in the same period last year. Revenues rose 10 percent to 2.250 billion pesos, the company said in a filing with the Mexican stock exchange. The company ended the quarter with a 15 percent increase in cable subscribers to nearly 2 million, a 22 percent jump in internet subscribers to 720,162 and 13 percent more telephone clients at 501,491.

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