Quezon City Philippines– Broadcast giant GMA Network, Inc. (GMA) remained cautiously optimistic on hitting its year-end target as it capped the first half of the year with recurring revenues of P7.698 billion, ahead by 6 percent over the same period last year.The Network managed to perform well following an election year, with its consolidated revenues dropping by only 12 percent. Political advocacies and advertisements contributed P1.488 billion to the Company’s top line during the first half of 2016.

Without the impact of political advertisements, GMA’s airtime revenue platforms including GMA-7, GMA News TV, Radio, and Regional all posted revenue growths during the period. On the other hand, the Network’s international operations and other businesses, which were not affected by the election placements last year, reflected a 22 percent growth year-on-year.

Aiding the Company’s steady financial performance was its efficient cost management, with total operating expenses posting a low single-digit hike of only 3 percent. This, despite the production of more expensive programs aimed at helping maintain the Network’s nationwide urban TV ratings dominance.

“We will still try to accomplish our yearend financial target as we have entered the second half of the year. We are very excited about our new programs, particularly on our primetime block, as well as other business opportunities that are expected to unfold within the year,” said GMA Network Chairman and CEO Felipe L. Gozon.