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14/11/2003
BSkyB results show huge profit hike
BSkyB's results for the three months ended September 2003 30 have revealed that total group revenue increased by 17% to £850 million and that operating profit, before goodwill and exceptional items, doubled to £151 million.
James Murdoch, Chief Executive of BSkyB, said: “The current financial year has started well and we continue to grow both subscribers and revenues. In particular, the most significant achievements are the doubling of operating profit and the considerable increase in profit margin.”
Programming costs for the period increased by £13 million to £367 million, reflecting contractual increases in sports rights costs, including the addition of the Champions League this season; volume and contractual rate increases in movies, partially offset by savings resulting from the continued weakness of the US dollar; and higher subscriber volumes in third party channel costs.
BSkyB's profit after tax was declared at £90 million.
(GB)
James Murdoch, Chief Executive of BSkyB, said: “The current financial year has started well and we continue to grow both subscribers and revenues. In particular, the most significant achievements are the doubling of operating profit and the considerable increase in profit margin.”
Programming costs for the period increased by £13 million to £367 million, reflecting contractual increases in sports rights costs, including the addition of the Champions League this season; volume and contractual rate increases in movies, partially offset by savings resulting from the continued weakness of the US dollar; and higher subscriber volumes in third party channel costs.
BSkyB's profit after tax was declared at £90 million.
(GB)
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