Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Media company Grupo Clarin reported wider losses as lower advertising revenue weighed on performance. For the year ended December 31, pre-tax losses widen to Ps. 791,447,322 from 323,288,921 as revenues fell 14.1% to Ps. 25,429.3m.
The company blamed the weaker revenue on lower advertising revenues in all segments and lower circulation in its printing and publishing business.
Advertising revenues, which represented approximately 45% of total revenue, decreased 15% and circulation revenues were down 14%.