Grupo Radio Centro Benefits From Greater Operating Efficiencies; Shares Overvalued
Grupo Radio Centro reported promising second-quarter performance, with substantial gains in advertising revenue generating total sales of MXN 360 million, but true year-over-year improvement was masked by the company’s consolidation of subsidiaries last summer. While the company does not break out organic growth, next quarter’s results should provide a better apples-to-apples comparison. Radio Centro is the market leader in Mexico City, but we believe that nonexistent customer switching costs fo...Grupo Radio Centro is the parent company of a group engaged in radio broadcasting. Co.'s major activities are the production and broadcasting of musical programs, news, interviews and special events. Co. is also involved in the marketing of commercial air time to advertising agencies and businesses. Co. operates a radio network in Mexico. In addition to its radio broadcasting activities, Co., under the trade name Organizacion Impulsora de Radio, acts as the national sales representative for and provides programming to a network of affiliates in Mexico.
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