Business Services Industry
AUSTAR UNITED COMMUNICATION POSTS US$10.76 MLN Q1 NET OP PROFIT.
AsiaPulse News, May, 2003
SYDNEY, May 8 Asia Pulse - Austar United Communications Ltd (ASX:AUN) has benefited from an abnormal gain on the sale of a telecommunications stake and booked a first quarter net operating profit of $A16.9 million ($US10.76 million).
The profit included an abnormal gain of $A24.5 million ($US15.6 million) from the sale of the company's stake in New Zealand-based TelstraClear Ltd.
The regional pay TV operator said the profit compared with a loss of $A44.6 million ($US28.41 million) in the previous corresponding period, and a $A15.4 million ($US9.81 million) loss in the fourth quarter of 2002.
Austar's television subscribers increased to 406,545 from 402,739 in the first quarter, a net gain of 3,806 subscribers.
It said customer churn was...
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