. GPS News .




.
SPACEMART
BSkyB profits dip despite revenue rise
by Staff Writers
London (AFP) Oct 19, 2011


British pay-TV giant BSkyB said Wednesday that net profits dipped in the first quarter of the group's financial year despite a solid jump in revenues and it winning a fee for News Corp.'s failed takeover.

Earnings after tax slid 1.3 percent to 225 million pounds ($354 million, 257 million euros) in the three months to the end of September, compared with the same period of the previous fiscal year, BSkyB said in a results statement.

Profits fell even though BSkyB earned a 39-million pounds break-fee for the scrapped takeover deal from Rupert Murdoch's News Corp., which remains the group's biggest shareholder with a 39-percent stake.

BSkyB, which also offers Internet and telephone services, added that the latest results were skewed because the company had last year made a large exceptional gain from the sale of its telecoms unit Easynet Global Services.

"We have made a good start to the year. In what remains a challenging consumer environment, our financial performance was strong," the company said.

BSkyB, which broadcasts live English Premier League football and blockbuster movies, said the number of household subscribers increased by 77,000 to 10.371 million in the first quarter. Revenues rose nine percent to 1.66 billion pounds.

"We continue to deliver strong financial results and good growth in customers and products," chief executive Jeremy Darroch said in Wednesday's earnings release.

"Looking ahead, the environment is likely to remain challenging as a result of the pressures facing consumers in the UK and Ireland."

Rupert Murdoch's News Corporation abandoned its bid to win full control of BSkyB earlier this year after a phone-hacking scandal forced it to close the British tabloid newspaper News of the World.

News Corp. had in June 2010 bid 7.8 billion pounds for the 60.9 percent of BSkyB it did not already own. BSkyB, whose portfolio includes the rolling Sky News channel, rejected the 700-pence-per-share offer even before the bid collapsed.

BSkyB's share price, which had rocketed to 850 pence amid the takeover battle, stood at 706 pence following Wednesday's results -- up 4.52 percent compared with the previous day's close.

London's benchmark FTSE 100 index, on which BSkyB shares are traded, was up 1.23 percent at 5,476.62 points in morning deals.

Back in July, BSkyB offered its shareholders a sweetener of more than 1.0 billion pounds in payouts as it sought to move on from News Corp.'s failed bid.

The group unveiled plans for a share buyback of 750 million pounds and a shareholder dividend of 253 million pounds. As BSkyB's biggest shareholder, News Corp. received nearly 400 million pounds from the payouts.

The pay-TV company also insisted that Murdoch's son James would remain its chairman despite the phone-hacking row at News Corp.

Related Links
The latest information about the Commercial Satellite Industry




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries






.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



SPACEMART
Constellation Networks Connects The Unconnected With SES
Luxembourg (SPX) Oct 14, 2011
SES has announced Constellation Networks Corporation (CNC) has signed capacity deals on two satellites to deliver life-changing Internet access to remote communities around the world. Constellation Networks has signed a multiple year contract on SES' NSS-10 and NSS-12 satellites to meet the basic communications needs of isolated towns and villages across the globe, including Africa, the Mi ... read more


SPACEMART
Genetically modified cotton worries some

Chinese wine students are boon for Bordeaux

Canadian scientists map the cannabis genome

Farmland floods do not raise levels of potentially harmful flame retardants in milk

SPACEMART
A new scheme for photonic quantum computing

Point defects in super-chilled diamonds may offer stable candidates for quantum computing bits

New knowledge about 'flawed' diamonds could speed the development of diamond-based quantum computers

Researchers Realize High-Power, Narrowband Terahertz Source at Room Temperature

SPACEMART
China's aviation sector sees slower growth: report

Aircraft leasing growing in Latin America

Northrop Grumman Extends Airport Realtime Collaboration Capability

Boeing Forecasts 1,250 New Airplanes Needed in Northeast Asia

SPACEMART
Bankruptcy looms larger for Saab as restructuring threatened

Toyota to sell China-made hybrid vehicles by 2015

Chinese investors want all of Saab: administrator

Laboratory on Wheels

SPACEMART
US territory offers to lease land to China

Colombia a leader in counter-narcotics

US lawmakers aim to lure Chinese, Canadian visitors

Europe warms up to Mercosur, but has terms

SPACEMART
Bolivia natives, president in talks stand-off

Bolivia cancels controversial Amazon highway

"Albedo effect" in forests can cause added warming, bonus cooling

Bolivian natives, president in talks stand-off

SPACEMART
NASA postpones climate satellite launch to Oct 28

NASA Readies New Type of Earth-Observing Satellite for Launch

NASA, Japan Release Improved Topographic Map of Earth

NASA Readies New Type of Earth-Observing Satellite for Launch

SPACEMART
Amorphous diamond, a new super-hard form of carbon created under ultrahigh pressure

Molecular Depth Profiling Modeled Using Buckyballs and Low-Energy Argon

New form of superhard carbon observed

Pear-shaped 110-carat diamond to go under hammer


.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement