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Foxtel Makes First Profit in Ten Years

News, 14 August 2006

SYDNEY: Australian pay-TV operator Foxtel has posted pre-tax, full year profits of A$4 million ($3m; €2.3m; £1.6m), a turnaround from last year's A$160m loss and its first profit in a decade.

The business, owned by Australian telco Telstra, News Corporation and Publishing & Broadcasting, saw subscriber numbers jump 10% to 1.13m over the twelve months to June 30, with the majority signing-up for the most expensive package.

Opines Foxtel ceo Kim Williams: "I feel confident that our settings are right and we will move from an inaugural profit to a much more substantial one in the current year."