Prisa's earnings soar due to ad boom

Spanish media company Promotora de Informaciones, otherwise known as Prisa http://www.prisa.es , has announced that its fourth-quarter net profit more than doubled as an advertising boom lifted sales at its flagship newspaper and radio stations. As the Wall Street Journal (WSJ) http://www.wsj.com reports, the company's net profit has jumped to 27.1 million euros from 13 million euros in the year-earlier quarter. Earnings were also buoyed by a lower tax bill. Sales increased by 7.9 per cent to 340 million euros. For the whole of 2004, net income climbed 70 per cent to 103.3 million euros from 60.6 million euros, on a 10 per cent increase in sales to 1.43 billion euros from 1.3 billion euros.