Sky's Profit Sinks on Costs, but Full-Year Dividend Recommendation Rises
July 28 2016 - 3:05AM
Dow Jones News
By Simon Zekaria
LONDON--Sky PLC's fiscal-year net profit sank on Thursday after
the media giant booked one-off costs following its expansion across
Europe, but its revenue was lifted by trading in the U.K., Ireland
and Germany.
Sky's net profit for the fiscal year ended June 30 fell to 666
million pounds ($880.7 million) from GBP1.96 billion in the year
preceding. Operating profit before exceptional items--a key metric
of business performance--rose 12% year over year to GBP1.56
billion, compared with consensus market expectations of GBP1.57
billion.
Adjusted for exceptional items, revenue rose 7% to GBP12
billion, versus expectations of GBP11.8 billion.
It recommended a full-year dividend of 33.5 pence per share, up
2%.
Sky is 39%-owned by 21st Century Fox, which until June 2013 was
part of the same company as The Wall Street Journal parent News
Corp.
Write to Simon Zekaria at simon.zekaria@wsj.com
(END) Dow Jones Newswires
July 28, 2016 02:50 ET (06:50 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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