Oz Media Giant PBL Hikes Profit by 26%

25 August 2006

SYDNEY: Net profit at Publishing & Broadcasting rose 26% in its first fiscal year helmed by James Packer - although the result owed more to the group's gambling interests than its media operations.

In the year to June 30, net profit rose to A$610 million ($465.3m; €363.7m; £245.8m), from A$485.5m a year earlier. Revenue increased 8% to A$3.63 billion from A$3.36bn.

However, it was a one-sided performance with operating earnings at the gambling division up 15% to A$524m, while the lacklustre Nine network saw its operating earnings dive 25% to A$215m amid tough competition.

Data sourced from Wall Street Journal Online; additional content by WARC staff