BSkyB Loss Increases to £112m

07 February 2001

In its half-year to 31 December, satellite broadcaster BSkyB saw pre-tax losses grow to £112 million ($164m) – more than doubling the £61.5m lost in the same period in 1999. But financial pundits were relatively unfazed at the news, having forecast losses of up to £133m.

Operating profits, however, were a different matter. They rose to £50.6m from a previous £28m, as anticipated by analysts’ forecasts of between £32m and £54m.

Negating this creditable performance was the write-off of £25m related to investments in new media, toeing parent NewsCorp’s current line of retrenching from its internet and other new media interests.

News source: BBC Online Business News (UK)