British Sky Broadcasting Group plc Results for the three months ended September 30, 2002; Sky reports 69% increase in operating profit.Business Editors LONDON--(BUSINESS WIRE)--Nov. 8, 2002 British Sky Broadcasting British Sky Broadcasting (BSkyB — formerly two companies, Sky Television and BSB) is a company that operates Sky Digital, a subscription television service in the UK and the Republic of Ireland. It produces TV content, and owns several TV channels. plc (NYSE NYSE See: New York Stock Exchange : BSY BSY Busy BSY British School of Yoga BSY Bit Sync BSY Busy Line ), the UK-based pay-television broadcasting group, today announced its results for the three months ended September September: see month. 30, 2002. -- Highest first quarter DTH subscriber growth for 9 years of 217,000 -- Total DTH subscribers of 6,318,000 -- Churn falls to 9.6% -- ARPU up 10% to (pound)348 ($540)(1) -- SAC down 11% to (pound)212 ($329) -- DTH revenue increases by 23% to (pound)538 million ($836 million) -- Advertising revenue increases by 12% to (pound)60 million ($93 million) -- Operating profit before goodwill increases by a record 69% to (pound)75 million ($117 million) -- Profit before tax and goodwill of (pound)43 million ($67 million) (1) Dollar conversions provided for convenience of US readers only Tony Ball, Chief Executive of British Sky Broadcasting Group plc, said: "This has been a record breaking quarter for Sky. The highest first quarter subscriber growth for 9 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time lowest churn churn: see butter. since the launch of Sky digital and falling subscriber acquisition costs, have delivered a 69% increase in operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. . These results provide the foundation for continued strong profit growth this year." A conference call for UK and European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. analysts will be held at 8:30 a.m. (GMT (Greenwich Mean Time) See UTC. GMT - Universal Time 1 ) today. To register for this, please contact Diane DIANE Diversified Information and Assistance Network (Tennessee Valley Authority) DIANE Direct Information Access Network for Europe DIANE Digital Integrated Attack and Navigation Equipment Barnes at Portland Portland, town, England Portland, town (1991 pop. 12,945), Dorset, S England. It is on the Isle of Portland, a small rocky peninsula. Portland stone has been used in St. Paul's Cathedral and other important London buildings. Lobsters and crabs are harvested. PR on +011 44 20 7404 5351. A live webcast of this call will be available on Sky's corporate website (www.sky.com/corporate) and available to replay. There will be a separate conference call for US analysts at 9:30 a.m. (EST EST electroshock therapy. EST abbr. electroshock therapy ) today. Details of this call have been sent to US institutions and can be obtained from Nikki Nikki may refer to: Niiki williams who lives in wales... she is a clown an she smells... really bad....
Noun, pl Austral & NZ slang no rules at all [origin unknown] on (212) 889 4350. OPERATING REVIEW At September 30, 2002 the total number of direct-to-home See DTH. (DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. ) digital satellite subscribers in the UK and Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. was 6,318,000. The net increase of 217,000 subscribers in the three months to September 30, 2002 (the quarter), represents record first quarter growth since the launch of Sky digital in October October: see month. 1998 and puts Sky comfortably on track to achieve its target of 7 million DTH subscribers by the end of the calendar year 2003. Digital churn for the quarter (annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. ) fell from 10.5% in the three months to June June: see month. 2002, to 9.6%. This is the lowest level of total churn recorded since the launch of Sky digital, reflecting the early benefits being realized of Sky's significant recent investment in its customer relationship management centers. The quarterly annualized average revenue per DTH subscriber (ARPU (Average Revenue Per User) A calculation often used to determine the overall value of an application. It is also used to rate particular customers, especially in the wireless space, by comparing someone's account to the overall average. ) in the quarter was (pound)348 ($540), an increase of 10% over the three months ended September 30, 2001 (the comparable period) and in line with ARPU reported for the quarter to June 30, 2002. ARPU remains firmly on track to reach Sky's target of (pound)400 ($621) in 2005. All subscribers are now subject to the price rise introduced in January January: see month. 2002 and the recently announced price rises for the UK, which take effect from January 2003, will be reflected in ARPU from the third quarter of this financial year. At September 30, 2002, there were 75,000 subscribers to the Extra Digibox A digibox can refer to either:
Sky's channels continue to increase their viewing share across UK television homes and consistently deliver the best programs to their viewers. Dinotopia, a new series this September on Sky One, generated over one million viewers for each episode. Sky Sports is as popular as ever. During the quarter, it achieved record audiences for both the Super League and The Ryder Cup Ryder Cup Biennial team golf event first held in 1927. It was originally played between teams of golfers from the U.S. and Britain; since 1979 players opposing the U.S. have been chosen from all of Europe. The trophy was donated by the British seed merchant Samuel Ryder. and the Nationwide League season has experienced a strong start. In multi-channel See multichannel. homes, Gillette Soccer Saturday Gillette Soccer Saturday is a television programme broadcast on Sky Sports in the United Kingdom and the Republic of Ireland during the football season. Soccer Saturday grew out of Sports Saturday, which started in 1992 hosted by Paul Dempsey. is now the football results magazine program of choice, consistently out-rating the BBC's Grandstand and ITV's Goal Rush. Coming up this month is exclusive live coverage of the England Rugby Union rugby union Noun a form of rugby played between teams of 15 players internationals against New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Australia and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , with eight-screen interactivity offered for the first time in this sport and the current Ashes cricket tour with every Test and One-day International
On September 24, 2002, Sky's bid was accepted for the rights to certain UEFA UEFA Union of European Football Associations UEFA n abbr (= Union of European Football Associations) → U.E.F.A. Champions League football matches from the 2003/4 season to the end of the 2005/6 season, subject to agreeing long form documentation. Sky will have exclusive live coverage of six matches on Tuesdays, eight matches and a full highlights program on Wednesdays and rights to simulcast the Final live. In total, 102 Champions League matches will be shown exclusively live on Sky each season, allowing viewers to choose between games using the unique interactive features of Sky Sports Active Sky Sports Active is a term used by British TV channel, Sky Sports, to describe their interactive sports service. It was launched in April 1999, on Sky Sports 1. Presented by Richard Keys, the first football game that was interactive was Arsenal vs. . Freeview, the new free-to-air digital terrestrial television Digital Terrestrial Television (DTTV or DTT) is an implementation of digital technology to provide a greater number of channels and/or better quality of picture and sound using aerial broadcasts to a conventional antenna (or aerial) instead of a satellite dish or (DTT DTT Deloitte Touche Tohmatsu (Deloitte & Touch Global Operations) DTT Dithiothreitol (cytology reagent) DTT Digital Terrestrial Television DTT Discrete Trial Training ) offering, was launched on October 30, 2002. Sky is supplying three channels on DTT - Sky News, Sky Sports News Sky Sports News (SSN) is a 24-hour sports news channel in the United Kingdom. It is run by BSkyB whose sports channels include Sky Sports 1, 2, 3, and Xtra, as well as Sky Sports HD1 and HD2. and Sky Travel - increasing the awareness of the Sky brand and delivering on the Company's vision to distribute Sky content to every UK home. FINANCIAL REVIEW The operating gearing inherent in Sky's business model is now delivering accelerating profit growth. Operating profit before goodwill for the quarter increased to (pound)75 million ($117 million), an increase of 69% on the comparable period. The Group made a profit before tax of (pound)14 million ($22 million), compared to a loss of (pound)89 million ($138 million) in the comparable period. Total revenues increased by 13% to (pound)726 million ($1,128 million), driven principally by strong performances in both DTH and advertising revenues. DTH revenues increased by 23% to (pound)538 million ($836 million) as a result of the 13% increase in the average number of DTH subscribers, and a 10% increase in core ARPU to (pound)334 ($518). The Group's advertising revenue increased by 12% on the comparable period to (pound)60 million ($93 million), reflecting growth in the total UK advertising market, growth in Sky's viewing share and the agency commissions earned on the sale of airtime air·time n. 1. The time during which a radio or television station is broadcasting. Also called airspace. 2. The time at which a radio or television program is broadcast. on the third party channels which have appointed Sky Sales to represent their airtime sales during the last year. As anticipated at the time of ITV (1) See interactive TV. (2) (iTV) The code name for Apple's video media hub (see Apple TV). Digital's closure, wholesale revenues declined by 36% on the comparable period to (pound)49 million ($76 million). Excluding the one-off effect of the closure of ITV Digital, the decline in cable revenues was 20%. This reduction is the direct consequence of the well-publicized loss of subscribers by both NTL NTL Nevertheless NTL National Transportation Library NTL Norsk Tjenestemannslag NTL National Training Laboratories NTL Never Too Late NTL Nothing to Lose NTL National Training Laboratory NTL None the Less NTL Number Theory Library and Telewest over the last six months and the continued deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in the take up of premium channels amongst the remaining cable subscribers. At the same time, the number of cable subscribers taking Sky's basic channels, Sky News and Sky One, has increased, and these channels are now distributed to over 90% of cable homes. Interactive revenues were (pound)44 million ($68 million) for the quarter, a decline of (pound)3 million ($5 million) on the comparable period. Growth in Sky Active revenues was offset by a reduction in gross betting revenues to (pound)22 million ($34 million), principally as a result of the scaling back of the low-margin telephone-based betting service at SkyBet, Sky's wholly owned bookmaker. By contrast, the proportion of higher-margin interactive television betting revenues continued to grow strongly in the quarter, with the total volume of bets placed via the remote control some 54% higher than in the comparable period. Sky Active revenues increased to (pound)22 million ($34 million), largely driven by the increased usage of the Sky Gamestar portal, which achieved an average weekly reach of 1.3 million individuals in the quarter. Interactive ARPU, which includes only the net margin on betting rather than the gross revenue, was (pound)14 ($22), an increase of 8% on the comparable period. Programming costs for the period increased by (pound)52 million ($81 million) to (pound)354 million ($550 million), principally as a result of volume-related increases in third party channel costs, the increased proportion of "hit" movies shown and contractual increases in sports rights costs, including the return of the Nationwide Football League to Sky this season. Other operating costs operating costs npl → gastos mpl operacionales before goodwill for the quarter were broadly consistent with the comparable period at (pound)297 million ($461 million). Included within these costs are marketing costs of (pound)102 million ($159 million), broadly consistent with the comparable period despite a record quarter for net subscriber additions. Subscriber acquisition cost (SAC Sac: see Sac and Fox. SAC - 1. An early system on the Datatron 200 series. [Listed in CACM 2(5):16 (May 1959)]. ) has fallen by (pound)25 ($39) from (pound)237 ($368) for the comparable period to (pound)212 ($329) for the quarter, principally as a result of the start of new set top box supply arrangements. Sky expects to achieve its target of (pound)210 ($326) for the financial year 2002/03 during the second quarter. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become for the quarter increased by 51% from (pound)65 million ($101 million) to (pound)97 million ($151 million). The Group's share of the operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of joint ventures fell to (pound)1 million ($1 million) in the quarter, a reduction of (pound)30 million ($47 million) over the comparable period, reflecting the cessation cessation Vox populi The stopping of a thing. See Smoking cessation. of equity accounting for the Group's share of losses incurred by KirchPayTV from February 8, 2002. After goodwill and its share of the results of joint ventures, the Group made a profit before taxation of (pound)14 million ($22 million). The tax charge for the quarter of (pound)14 million ($22 million) is based upon the standard rate (30%) of UK mainstream corporation tax (MCT See Microsoft certification. ), notwithstanding the presence of significant unrecognized tax losses. Whilst the Group ultimately expects that it will be able to utilize these tax losses in full in due course, differences between the group entities in which profits arise and in which past losses have accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. may lead to a liability to MCT arising in the current year before these losses have been fully utilized. This liability to MCT has therefore currently been provided for in full. At September 30, 2002, the Group had (pound)18 million ($28 million) of Advanced Corporation Tax (ACT) recoverable, which is expected to be used in the current year to reduce any MCT payable, and (pound)67 million ($104 million) of ACT recoverable in the 2003/04 financial year. The Group's operating cash inflow in·flow n. 1. The act or process of flowing in or into: an inflow of water; an inflow of information. 2. was (pound)97 million ($151 million) in the quarter, compared to an operating cash outflow of (pound)47 million ($73 million) in the comparable period. This represented the conversion of 129% of operating profit before goodwill to operating cash inflow. Despite substantial working capital outflows Capital outflow is an economic term describing capital flowing out of (or leaving) a particular economy. Outflowing capital can be caused by any number of economic or political reasons but can often originate from instability in either sphere. in the quarter relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc payments for sporting rights, including payments totaling over (pound)200 million ($311 million) to the FA Premier League and the FA, Sky reduced its net debt in the first quarter by (pound)24 million ($37 million) to (pound)1,504 million ($2,335 million), from (pound)1,528 million ($2,372 million) at June 30, 2002. The ratio of net debt to annualized EBITDA now stands at 3.9, the lowest level since 1999. Sky continues to expect net debt to fall at each balance sheet date. CORPORATE On September 30, 2002, Telewest announced that it had reached a non-binding preliminary agreement relating to a restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). with a committee representing a significant proportion of its bonds. Telewest also announced that it will defer de·fer 1 v. de·ferred, de·fer·ring, de·fers v.tr. 1. To put off; postpone. 2. To postpone the induction of (one eligible for the military draft). v.intr. payments of interest on certain of its obligations, resulting in defaults under bank facilities and other financing arrangements, and this has led a creditor An individual to whom an obligation is owed because he or she has given something of value in exchange. One who may legally demand and receive money, either through the fulfillment of a contract or due to injury sustained as a result of another's Negligence to file a petition for its winding up. Telewest has stated that it will deal with this claim as part of the overall restructuring and that it will continue to meet its obligations to suppliers. As set out more fully in the circular sent to shareholders on October 8, 2002, resolutions are being proposed at today's Annual General Meeting for, inter alia [Latin, Among other things.] A phrase used in Pleading to designate that a particular statute set out therein is only a part of the statute that is relevant to the facts of the lawsuit and not the entire statute. , the appointment of Jacques Nasser Jacques Nasser (born December 27, 1947[1] in Amyoun, Lebanon;[2] Arabic جاك نصر ) nicknamed "Jac The Knife" because of his penchant for cost-cutting, is a business executive, most known for his infamous tenure as CEO of Ford and Gail Rebuck as independent non-executive Directors A non-executive director (NED, also NXD) or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way. of the Company. Jacques Nasser served as a Member of the Board of Directors, and as President and Chief Executive Officer of Ford Motor Company, from 1998-2001. Gail Rebuck is Chairman and Chief Executive of The Random House Group Ltd, the UK's largest trade publishing company. On November 7, 2002 the Company filed its Annual Report on Form 20-F for the financial year ended June 30, 2002 with the US Securities and Exchange Commission. A copy of the Form 20-F has been submitted to the UK Listing Authority and will be available at the UK Listing Authority's Document Viewing Facility (which is situated at 25 The North Colonnade colonnade (kŏlənād`), a row of columns usually supporting a roof. Colonnades were popular with the Greeks and Romans, who employed them in the stoa and the portico; they have continued to be used throughout the Middle Ages, the , Canary Wharf
Canary Wharf is a large business development in London, located on the Isle of Dogs in the London Borough of Tower Hamlets, centred on the old West India Docks in , London E14 5HS).
Appendix 1
Subscribers to Sky Channels
Prior Prior
Year Quarter
Q1 2001/02 Q4 2001/02 Q1 2002/03
as at 09/30/01 as at 06/30/02 as at 09/30/02
DTH Digital(1)(2) 5,498,000 6,101,000 6,318,000
Cable - UK 2,914,000 3,486,000 3,405,000
Cable - Ireland 602,000 605,000 594,000
DTT3 1,178,000 - -
Total 10,192,000 10,192,000 10,317,000
DTH Churn rate for
year to date 10.4%(4) 10.5%(4) 9.6%
(annualized)
Net DTH growth in
quarter 45,000 214,000 217,000
(1) Includes DTH subscribers in Ireland (255,000 as at September 30,
2002).
(2) DTH subscribers includes only primary subscriptions to Sky (no
additional units are counted for Sky+ or Extra Digibox
subscriptions).
(3) On April 30, 2002, the joint administrators of ITV Digital
announced their decision to close the pay television operation of
ITV Digital and, with effect from that date, these subscribers
ceased to receive any Sky subscription channels.
(4) Excludes analogue churn up to September 27, 2001 and the effect of
the termination of the analogue service on September 27, 2001.
Consolidated Profit and Loss Account for the three months ended
September 30, 2002
2002/2003
Three
months
ended
September
Before 30, 2002
goodwill Goodwill Total
$m(a) $m(a) $m(a)
Notes (unaudited)(unaudited)(unaudited)
Turnover: Group turnover
and share of joint
ventures' turnover 1,155.2 - 1,155.2
Less: share of joint
ventures' turnover (27.8) - (27.8)
Group turnover 1 1,127.4 - 1,127.4
-----------------------------------------------------------------
Operating expenses, net 2 (1,010.7) (45.4) (1,056.1)
-----------------------------------------------------------------
EBITDA 151.2 - 151.2
Depreciation (34.5) - (34.5)
Amortization - (45.4) (45.4)
-----------------------------------------------------------------
Operating profit (loss) 116.7 (45.4) 71.3
-----------------------------------------------------------------
Share of operating results
of joint ventures 3 (1.4) - (1.4)
Joint ventures' goodwill
amortization - - -
Profit on sale of fixed
asset investment - - -
Release of provision for
loss on disposal of
subsidiary - - -
Profit (loss) on ordinary
activities before interest
and taxation 115.3 (45.4) 69.9
-----------------------------------------------------------------
Interest receivable and
similar income 1.4 - 1.4
Interest payable and
similar charges (49.7) - (49.7)
Profit (loss) on ordinary
activities before taxation 67.0 (45.4) 21.6
-----------------------------------------------------------------
Tax on profit (loss) on
ordinary activities (21.4) - (21.4)
Profit (loss) on ordinary
activities after taxation 45.6 (45.4) 0.2
-----------------------------------------------------------------
Equity dividends - paid and
proposed -
Retained profit (loss) 0.2
-----------------------------------------------------------------
Profit (loss) per share -
basic and diluted 2.5c (2.5c) 0.0c
-----------------------------------------------------------------
2002/2003
Three
months
ended
September
Before 30, 2002
goodwill Goodwill Total
(pound)m (pound)m (pound)m
(unaudited) (unaudited) (unaudited)
Turnover: Group turnover
and share of joint
ventures' turnover 744.1 - 744.1
Less: share of joint
ventures' turnover (17.9) - (17.9)
Group turnover 726.2 - 726.2
------------------------------------------------------------
Operating expenses, net (651.0) (29.3) (680.3)
------------------------------------------------------------
EBITDA 97.4 - 97.4
Depreciation (22.2) - (22.2)
Amortization - (29.3) (29.3)
------------------------------------------------------------
Operating profit (loss) 75.2 (29.3) 45.9
------------------------------------------------------------
Share of operating results
of joint ventures (0.9) - (0.9)
Joint ventures' goodwill
amortization - - -
Profit on sale of fixed
asset investment - - -
Release of provision for
loss on disposal of
subsidiary - - -
Profit (loss) on ordinary
activities before interest
and taxation 74.3 (29.3) 45.0
------------------------------------------------------------
Interest receivable and
similar income 0.9 - 0.9
Interest payable and
similar charges (32.0) - (32.0)
Profit (loss) on ordinary
activities before taxation 43.2 (29.3) 13.9
------------------------------------------------------------
Tax on profit (loss) on
ordinary activities (13.8) - (13.8)
Profit (loss) on ordinary
activities after taxation 29.4 (29.3) 0.1
------------------------------------------------------------
Equity dividends - paid and
proposed -
Retained profit (loss) 0.1
------------------------------------------------------------
Profit (loss) per share -
basic and diluted 1.6p (1.6p) 0.0p
------------------------------------------------------------
2001/2002
Three
months
Before Goodwill ended
goodwill and and September
exceptional exceptional 30, 2001
items items Total
(pound)m (pound)m (pound)m
(unaudited) (unaudited) (unaudited)
Turnover: Group turnover
and share of joint
ventures' turnover 688.2 - 688.2
Less: share of joint
ventures' turnover (45.5) - (45.5)
Group turnover 642.7 - 642.7
-------------------------------------------------------------
Operating expenses, net (598.1) (29.7) (627.8)
-------------------------------------------------------------
EBITDA 64.5 - 64.5
Depreciation (19.9) - (19.9)
Amortization - (29.7) (29.7)
-------------------------------------------------------------
Operating profit (loss) 44.6 (29.7) 14.9
-------------------------------------------------------------
Share of operating results
of joint ventures (30.9) - (30.9)
Joint ventures' goodwill
amortization - (49.2) (49.2)
Profit on sale of fixed
asset investment - 2.3 2.3
Release of provision for
loss on disposal of
subsidiary - 10.0 10.0
Profit (loss) on ordinary
activities before interest
and taxation 13.7 (66.6) (52.9)
-------------------------------------------------------------
Interest receivable and
similar income 4.1 - 4.1
Interest payable and
similar charges (40.4) - (40.4)
Profit (loss) on ordinary
activities before taxation (22.6) (66.6) (89.2)
-------------------------------------------------------------
Tax on profit (loss) on
ordinary activities (5.6) - (5.6)
Profit (loss) on ordinary
activities after taxation (28.2) (66.6) (94.8)
-------------------------------------------------------------
Equity dividends - paid and
proposed -
Retained profit (loss) (94.8)
-------------------------------------------------------------
Profit (loss) per share -
basic and diluted (1.5p) (3.5p) (5.0p)
-------------------------------------------------------------
(a) Dollar equivalents are provided for reader convenience at the
September 30, 2002 exchange rate of (pound)1 = $1.5525
Notes:
1. Turnover
2002/2003 2001/2002
Three Three
months months
ended ended
September 30 September 30
(pound)m (pound)m
(unaudited) (unaudited)
Direct-to-home subscribers 538.3 437.9
Cable and DTT subscribers 48.6 75.6
Advertising 59.9 53.6
Interactive 44.0 47.3
Other 35.4 28.3
726.2 642.7
----------------------------------------------------------------------
2002/2003
Three
months
ended
September
Before 30
goodwill Goodwill Total
(pound)m (pound)m (pound)m
(unaudited) (unaudited)(unaudited)
Programming (i) 354.3 - 354.3
Transmission
and related
functions (i) 37.8 - 37.8
Marketing 102.4 - 102.4
Subscriber
management 77.6 - 77.6
Administration 58.1 29.3 87.4
Betting (ii) 20.8 - 20.8
651.0 29.3 680.3
-----------------------------------------------
2001/2002
Three
months
ended
September
Before 30
goodwill Goodwill Total
(pound)m (pound)m (pound)m
(unaudited) (unaudited) (unaudited)
Programming
(i) 302.6 - 302.6
Transmission
and related
functions (i) 43.9 - 43.9
Marketing 100.2 - 100.2
Subscriber
management 73.8 - 73.8
Administration 51.9 29.7 81.6
Betting (ii) 25.7 - 25.7
598.1 29.7 627.8
-----------------------------------------------
(i) The amounts shown are net of (pound)1.6 million (2001/2002
three months ended September 30: (pound)1.8 million) receivable from
the disposal of programming rights not acquired for use by the Group,
and (pound)6.0 million (2001/2002 three months ended September 30:
(pound)7.7 million) in respect of the provision to third party
broadcasters of spare transponder capacity.
(ii) Betting comprises the cost of payouts for winning bets placed
through the Group's wholly owned bookmaker, Surrey Sports. Bets can be
placed via the telephone, the internet or via the Group's interactive
television services.
3. Share of operating results of joint ventures
2002/2003 2001/2002
Three Three
months months
ended ended
September 30 September 30
(pound)m (pound)m
(unaudited) (unaudited)
Joint ventures:
KirchPayTV - 28.7
Programming joint ventures, net 0.9 2.2
0.9 30.9
------------------------------------------------------------------
This relates to the Group's equity share of the operating results
of the Group's joint ventures.
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