ABS-CBN Broadcasting Corp. (ABS-CBN), the oldest media empire in the country, made a net profit of over P1.2 billion in 2007 from the P740.55 million a year earlier.

In an interview, chairman and chief executive Eugenio L. Lopez III said last year’s strong performance was boosted by revenues from the company’s international unit ABS-CBN Global.

The company, he added, also booked a one-time gain from unit Sky Cable following ABS-CBN’s purchase of the cable firm’s debt at a discount.

“More than the net profit, I would like to highlight that our EBITDA (earnings before interest, taxes, depreciation and amortization) last year amounted to more than P4 billion,” Lopez said. EBITDA is a measure of a company’s operating cash flow.

The company will officially announce its 2007 financial results on April 8.

ABS-CBN, whose shares are traded on the Philippine Stock Exchange, is an integrated media and entertainment company.

SM Investments Corp. (SMIC) will further expand its retail merchandising business this year to take advantage of the industry’s steady growth.

BPI sees revenue growth slowing

BANK of the Philippine Islands, the nation’s largest by market value, expects revenue growth to slow this year because of lower trading gains.

ABS-CBN Broadcasting Corp. (ABS-CBN), the oldest media empire in the country, made a net profit of over P1.2 billion in 2007 from the P740.55 million a year earlier.

IP E-Game Ventures Inc., the business unit for online gaming of IPVG Corp., has entered into a game licensing deal with Japanese media company GDH K.K. through its group company GONZO Rosso K.K.

By now, everybody knows that the 40-hectare Entertainment City of Philippine Amusement and Gaming Corp. (Pagcor) has been renamed The Nayong Pilipino Manila Bay Integrated City.