News International Interim Results

News International plc yesterday released its unaudited results for the six months ended 31 December 1995.

Operating profits for the group which is controlled by Rupert Murdoch’s News Corporation showed a profit of £76.2 million. This is an increase of 36% compared with the equivalent period last year as its newspaper circulation and advertising revenue increased despite increases in the cover price of some of the titles.

However the profits were affected by the closure of Today newspaper which cost the company an estimated £42 million.

The results exclude £45.2 million from associated operations, which include the Group’s 40% interest in BSkyB which has continued to show growth in profitability and number of subscribers during the six month period.

News International plc Executive Chairman, Leslie Hinton, said that they are “Delighted with these excellent results achieved in a brutally competitive market. We are especially pleased that we have been able to maintain, and in some cases increase, the circulation of our titles despite the necessity to raise cover prices.”

The News Corporation reported its profits for the last six months at $492 million, a decrease of 2% compared to the same period last year and Fox Television Station Group saw profits up by 14% year on year. Revenue for the six months soared 11% to £3.3 billion thanks to the boost in profits from US television and UK newspapers.

News International: 0171 782 6000