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Canal Plus profits up 14.5% in 1992

Canal Plus, Europe’s leading pay-TV group, has posted a 14.5% increase in net income for 1992. A company statement released yesterday said net income hit 1.1 billion francs ($ 197 million) and revenues were up 13.4% at 8 billion francs ($ 1.4 billion.)

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The bottom line was boosted by 179 million francs ($ 32 million) in unrealized capital gains left over from 1991.

The company provided 81 million francs ($ 14 million) to cover investment in financially strapped Carolco but said this largely was been offset by miscellaneous non-recurring income.

The lion’s share of revenues continue to come from 3.5 million French subscribers. Subscription revenues increased 9.7% to 6.4 billion francs ($ 1.1 billion).

Canal Plus has subsidiaries in Germany, Belgium, Spain and parts of Africa. Company reported the foreign channels had reduced losses from 248 million francs ($ 44 million) in 1991 to 143 million francs ($ 25 million) last year.

Canal Plus insiders said they anticipate double-digit growth in consolidated sales and earnings this year.

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