Telecinco Gains for Second Day on Faster Sales Growth
Gestevision Telecinco SA (TL5), owner of Spain's most-watched television channel, rose for a second day in Madrid trading after advertising-sales growth accelerated in the third quarter.
Telecino shares climbed 50 cents, or 2.7 percent, to 19.14 euros in Madrid, where the company is based. The shares added 3.3 percent yesterday.
Gross television advertising sales increased 15 percent in the quarter and rates grew more than 10 percent from a year earlier, Giuseppe Tringali, chief executive officer for advertising, said in an interview yesterday. Telecinco is the only broadcaster with more than 20 percent market share.
``Quarter after quarter Telecinco is strengthening its leadership despite the increase in competition,'' said Ofelia Marin, head of analysis at Banca March SA in Madrid. ``It proves they know what they are doing.''
The broadcaster has led the ratings for 19 consecutive months. Its nearest competitor, Antena 3 de Television SA, posted its worst monthly showing in more than 15 years in September, according to audience tracker Barlovento Comunicacion.
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