Drop in earnings hurts PBL’s purse

Oz company records 8% drop

SYDNEY — Kerry Packer’s Publishing and Broadcasting reported an 8% drop in earnings before interest, tax and abnormals to A$308 million ($200 million) and a post-tax profit of $113 million on revenues of $780 million (up 4.5%) for the year ended in June.

While a robust cost-cutting program saw expenditure fall 9.4% to $597 million, increased paper costs, a soft advertising market, loss of income from divested units and losses on televising the Commonwealth Games dragged down the bottom line.

But PBL chief exec Nick Falloon expects better things for the television, Internet and magazine conglom in fiscal 2000 owing to the takeover of expected cash generator Crown Casino and an improving TV ad market.

More Biz

  • EMI Music Publishing logo

    Sony to Buy Additional 60% Stake in EMI Music Publishing for $2.3 Billion

    SYDNEY — Kerry Packer’s Publishing and Broadcasting reported an 8% drop in earnings before interest, tax and abnormals to A$308 million ($200 million) and a post-tax profit of $113 million on revenues of $780 million (up 4.5%) for the year ended in June. While a robust cost-cutting program saw expenditure fall 9.4% to $597 million, […]

  • Comcast's Sky Bid Unlikely to Face

    Comcast Bid for Sky Unlikely to Face Same Regulatory Scrutiny as Fox Offer

    SYDNEY — Kerry Packer’s Publishing and Broadcasting reported an 8% drop in earnings before interest, tax and abnormals to A$308 million ($200 million) and a post-tax profit of $113 million on revenues of $780 million (up 4.5%) for the year ended in June. While a robust cost-cutting program saw expenditure fall 9.4% to $597 million, […]

  • Prince Harry and Meghan MarkleThe wedding

    How Oprah, Ava DuVernay and Reese Witherspoon Celebrate the Royal Wedding

    SYDNEY — Kerry Packer’s Publishing and Broadcasting reported an 8% drop in earnings before interest, tax and abnormals to A$308 million ($200 million) and a post-tax profit of $113 million on revenues of $780 million (up 4.5%) for the year ended in June. While a robust cost-cutting program saw expenditure fall 9.4% to $597 million, […]

  • Prince Harry and Meghan MarkleThe wedding

    Watch the Gospel Choir's Rendition of 'Stand by Me' at the Royal Wedding

    SYDNEY — Kerry Packer’s Publishing and Broadcasting reported an 8% drop in earnings before interest, tax and abnormals to A$308 million ($200 million) and a post-tax profit of $113 million on revenues of $780 million (up 4.5%) for the year ended in June. While a robust cost-cutting program saw expenditure fall 9.4% to $597 million, […]

  • Prince Harry and Meghan MarkleThe wedding

    Prince Harry Marries U.S. Actress Meghan Markle

    SYDNEY — Kerry Packer’s Publishing and Broadcasting reported an 8% drop in earnings before interest, tax and abnormals to A$308 million ($200 million) and a post-tax profit of $113 million on revenues of $780 million (up 4.5%) for the year ended in June. While a robust cost-cutting program saw expenditure fall 9.4% to $597 million, […]

More From Our Brands

Access exclusive content