Record revenues fail to deliver YES profit

The Israeli satellite platform YES has posted revenues of NIS381 million (72.45m) in the first quarter. However, the heavy cost of financing the company meant that despite the 8% increase on 2007, the company remains in the red.

As of March 31, 2008 YES recorded 549,000 almost unchanged in a year ago net profits rising to NIS66m from NIS34 in the previous quarter.

Operating profit increased slightly to NIS 27m for the first quarter with EBITDA coming in at NIS92m.