BSkyB profits up 26% to 520m

Strong demand for broadband lifted first-half profits at bid target BSkyB by 26 per cent, showing why Rupert Murdoch’s News Corp…

Strong demand for broadband lifted first-half profits at bid target BSkyB by 26 per cent, showing why Rupert Murdoch’s News Corp is keen to secure its takeover deal without delay.

News Corp has offered to buy the 61 per cent of BSkyB it does not own and faces a six-month competition probe if it cannot allay fears that such a move will give too much control over public opinion to Mr Murdoch.

BSkyB reported first-half adjusted operating profit of £520 million (€602.4 million), compared with a poll forecasting £500 million, and revenue up 15 per cent to £3.2 billion, also slightly ahead of forecasts.