Financial Roundup: Major Marketers, Media

11 August 2004

UK (calendar H1)

  • Archant Group
        Pre-tax profits for the family owned business, which publishes the Eastern Daily Press and Recorder series plus a stable of successful county magazines, were up by 17.6% to £16.6 million ($30.55m; €24.92m) for the twenty-six weeks to 26-Jun-04.
        Turnover across the group also saw a robust increase on the same period in 2003, with revenues rising 18.3% to £78m.
       Archant chairman Richard Jewson, said: "Given a strong economy and the group's progress in the first half of the year, the board expects that continued growth can be achieved in the second half.

    Global (calendar Q2)
  • British Airways
        The UK flag carrier reported a profit of £70 million ($128.82m; €105.06m) on Monday for the three months ended June 30, in contrast to a year-on-year loss of £63m. Total sales at rose by 5.1%to £1.93 billion.
        The quarterly figures are "strong, but progress from here will be more difficult," opined Dresdner Kleinwort Wasserstein in a note to investors.

    USA (calendar Q2)
  • Cablevision Systems
        America's sixth largest player in its ailing cable industry posted a year-on-year revenue increase of 17%, while sales at its Rainbow Media Group, which includes AMC and the Independent Film Channel, soared 56%.
        Overall revenue rose 25%to $1.2 billion (€978.7m; £652.06m). Cablevision also forecast revenue for the full year would rise 13% to 15%, compared with the 12%-14% predicted earlier this year.
        Despite the forced cheer on the revenue front, the brutal fact is that the company lost $187.1 million compared with a profit of $158.3 million in the year ago quarter. The deficit stemmed from higher interest expenses and losses on investments.

    USA (calendar Q2)
  • Charter Communications
        The nation's number four cable operator said it lost $415 million (€338.47m; £225.51m) in the quarter compared year-on-year with a loss of $37 million.
        The deficit was far worse than analysts had expected and coincides with a decline in the number of the company's basic cable TV customers. The St Louis-headquartered company shed a net 58,800 television subscribers in the quarter.
        Revenue, however, increased 1.8% to $1.24 billion, mainly thanks to a leap in the number of high-speed internet customers

    Data sourced from multiple origins; additional content by WARC staff