Business Services Industry
News loses $7.75b.
Australasian Business Intelligence, May, 2002
May 14, 2002 (Herald Sun
ABIX via COMTEX) -- News Corporation on 14 May 2002 announced a record $A7.75bn loss, the largest in Australia's corporate history. The bottom-line loss in the March 2002 quarter consisted of $A8.2bn in abnormal charges, which is mostly all associated with the writedown of the group's 42 per cent stake in Gemstar, a US television guide company. If the charges are not taken into consideration, the after tax earnings of $A456m was way above the $A244m posted for the previous corresponding quarter. News Corporation's chairman Rupert Murdoch says the group is still achieving robust growth in underlying earnings, with a stronger than ever balance sheet.
Publication Date: 15 May 2002
NEWS CORPORATION LIMITED - ASX NCP:...
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