Financial Reports - In Brief

12 November 2003

British Airways (H1)
Fiscal first half earnings slumped by 79% at the UK flag carrier. In the six months to September 30, post-tax profit slid to £42 million ($70.2m; €60.9m) compared with £198m year-on-year. Revenue was down 82% to £3.82bn. Separately, the airline announced that long-serving executive chairman Sir Colin Marshall is standing down and will be replaced in July 2004 by Martin Broughton, currently chairman of British American Tobacco and a non-executive director of BA.

EchoStar Communications (Q3)
America's second largest satellite broadcaster notched a profit of $35.1 million (€30.47m; £21.07m) thanks to subscriber gains at the expense of cable TV rivals. Sales soared 19% to $1.45 billion alongside $122bn a year ago. The result compares with a year-on-year loss of $167.9m.

Emap (H1)
The British publishing and radio group upped pre-exceptional interim profits by 9% to £94 million ($156.58m; €135.92m). The group, whose wide-ranging assets include FHM and Heat magazines and the Magic and Kiss Radio networks, expects "no material change" in second-half trading conditions. A surge in NPD activity is expected during the fiscal year with £18m-19m earmarked for that purpose. Among the launches will be a men's weekly magazine.

Data sourced from multiple origins; additional content by WARC staff