14pc Rise in Profit for Austar

**fudda** · 28-10-08, 12:01 PM

From "The Australian" today (28/10/08)

AUSTAR today said it was confident of 20 per cent earnings growth, as it reported deeper market penetration amid tough economic times.

The regional pay-TV group said it had recorded a 14 per cent increase in third-quarter profits.

A statement by Austar United Communications said earnings before interest, tax, depreciation and amortisation rose to $53 million in the September quarter, from $46.4 million in the previous three months.

Revenue at Austar climbed 11 per cent to $160 million on an annual basis.

Austar said it gained 18,585 new subscribers in the quarter, taking the total to 713,658.
Nearly 10 per cent of its residential subscribers had signed up to its MyStar service.

Chief executive John Porter said: “We are delighted that we have been able to maintain our subscriber momentum, reduce churn and maintain strong tier penetration even as the economic environment has turned more difficult for consumers.

“These are obviously challenging and uncertain times for everyone, in business and at home,” he said.

“We believe that in this environment, Austar remains excellent value for both consumers and shareholders.”

Piracy doesn't seem to be a problem. Good to hear. The last thing we need is for Austar to be gobbled up by Foxtel.

**bambbbam** · 28-10-08, 03:34 PM

Very had to polish a turd, as me ol' china Rod Speed would say..

**satguy** · 28-10-08, 04:28 PM

'Austar said it gained 18,585 new subscribers' - I would love to know now many of these 'new' accouts were people moving form metro foxtel areas to austar areas.

At work I know of 4 families who have moved north of Brisbane and had to change to austar becuase of the licensing areas.