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25/07/2001
BSkyB announces half billion losses despite subscriber increase
British Sky Broadcasting (BSkyB) have announced their results for the year ended June 30 2001.
The company reported strong growth in digital subscribers to 5.5 million, up 21 per cent, revenue increased by 25 per cent to £2,306 million, and operating profit before the deduction of goodwill and exceptional items increased by 88 per cent to £160 million.
After goodwill, interest, share of joint ventures’ losses and exceptional items, the loss before tax was £515 million. The loss after tax was £539 million and resulted in a loss of 29.2 pence per share.
BSkyB also reported they have acquired just under 5.5m satellite subscribers, up around 940,000 on last year and 75,000 ahead of the previous quarter.
The company exceeded their target of £300 per year in average revenue per subscriber (ARPU) in the quarter to June 30, as a result of price increases in January. The churn rate remained at around 10 per cent.
Recent years have seen millions of subscribers moving to digital from analogue.
BSkyB have built up a dominant market position over their competitors by giving away digital set-top boxes to subscribers for free, but the cost of the giveaway has resulted in huge losses over the period.
But as the next generation of set-top boxes are expected to cost £300 it is unlikely these will be given away.
(GB)
The company reported strong growth in digital subscribers to 5.5 million, up 21 per cent, revenue increased by 25 per cent to £2,306 million, and operating profit before the deduction of goodwill and exceptional items increased by 88 per cent to £160 million.
After goodwill, interest, share of joint ventures’ losses and exceptional items, the loss before tax was £515 million. The loss after tax was £539 million and resulted in a loss of 29.2 pence per share.
BSkyB also reported they have acquired just under 5.5m satellite subscribers, up around 940,000 on last year and 75,000 ahead of the previous quarter.
The company exceeded their target of £300 per year in average revenue per subscriber (ARPU) in the quarter to June 30, as a result of price increases in January. The churn rate remained at around 10 per cent.
Recent years have seen millions of subscribers moving to digital from analogue.
BSkyB have built up a dominant market position over their competitors by giving away digital set-top boxes to subscribers for free, but the cost of the giveaway has resulted in huge losses over the period.
But as the next generation of set-top boxes are expected to cost £300 it is unlikely these will be given away.
(GB)
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Motorola cuts a further 7,000 jobs
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Motorola cuts a further 7,000 jobs
Mobile phone maker Motorola is set to axe a further 7,000 jobs worldwide bringing the company’s total job cuts to 39,000 since the start of the year. Motorola chief Robert Growney revealed that around 4,000 of the latest losses were associated with sold businesses, with a further 3,000 earmarked for loss through cuts and attrition.
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BSkyB profits rise while subscriptions fall
BSkyB have reported a 23 per cent rise in operating profits for their first quarter, but admit that subscriber numbers are lower than predicted. The company's losses have diminished after operating profits for the three months ended September came in at £45 million.
BSkyB profits rise while subscriptions fall
BSkyB have reported a 23 per cent rise in operating profits for their first quarter, but admit that subscriber numbers are lower than predicted. The company's losses have diminished after operating profits for the three months ended September came in at £45 million.
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Ulster Bank announces healthy profit rise
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Ulster Bank announces healthy profit rise
The Ulster Bank has announced a 24 per cent increase in profits of £119 million. The Bank’s overall income increased by 12 per cent to £255 million, while costs increased by 5 per cent to £126 million. Overall, the Royal Bank of Scotland Group, posted interim six-month profit figures that were up 37 per cent to £2,751 million.
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Economy has made impressive improvements says Trimble
Northern Ireland First Minister David Trimble has delivered the Annual Lecture to the Institute of Directors in London. Reviewing the prospects for the local economy in the province Mr Trimble delivered an up-beat assessment of Northern Ireland’s political prospects.
Economy has made impressive improvements says Trimble
Northern Ireland First Minister David Trimble has delivered the Annual Lecture to the Institute of Directors in London. Reviewing the prospects for the local economy in the province Mr Trimble delivered an up-beat assessment of Northern Ireland’s political prospects.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
