News Corporation yesterday announced an increase in profits in the year ending June 1993. Pre-tax profits for the group were A$1.16 billion, compared with A$622.4m in 1992. Group turnover has increased 4.9% to A$10.7 billion.
News International, a subsidiary of News Corporation, and owner of newspapers the Sun and the Sunday Times reported pre-tax profits of £161.2m, an increase of 235% on last year’s figure of £48.1m. This was boosted by a £45m swing on interest and profits at BSkyB. BSkyB contributed £26.7m following a loss of £13.3m previously. Analysts expect BSkyB to increase trading profits to £150m in the coming year.
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