|
3. Operating expenses, net
|
|
2000/2001
Half year
£m
(unaudited)
|
|
1999/2000
Half year
£m
(unaudited)
|
|
1999/2000 Full year
£m
(audited)
|
Programming**
|
|
534.5
|
|
431.9
|
|
935.2
|
Transmission and related functions**
|
52.4
|
|
52.0
|
|
105.2
|
Marketing
|
|
211.6
|
|
179.0
|
|
381.3
|
Subscriber management
|
117.6
|
|
99.9
|
|
199.9
|
Administration
|
|
69.9
|
|
55.3
|
|
129.7
|
Interactive
|
|
49.4
|
|
3.8
|
|
10.4
|
|
|
1,035.4
|
|
821.9
|
|
1,761.7
|
Goodwill amortisation***
|
17.9
|
|
-
|
|
-
|
Exceptional operating items
|
-
|
|
-
|
|
105.0
|
|
|
1,053.3
|
|
821.9
|
|
1,866.7
|
** The amounts shown are net of £6.0 million (1999/2000: half year £7.9 million; full year £51.3 million) receivable from the disposal of programming rights not acquired for use by the Group, and £28.7 million (1999/2000: half year £30.7 million; full year £61.3 million) in respect of the provision to third party broadcasters of spare transponder capacity.
*** Amortisation of goodwill arising on the acquisition of Sports Internet Group (see Note 8).
4. Share of operating results of joint ventures
This relates to the Group’s equity share of the operating results of joint ventures.
|
|
2000/2001
|
|
1999/2000
|
|
1999/2000
|
|
|
Half year
|
|
Half year
|
|
Full year
|
|
|
£m
|
|
£m
|
|
£m
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(audited)
|
|
|
|
|
|
|
|
KirchPayTV
|
|
46.4
|
|
-
|
|
11.0
|
British Interactive Broadcasting (“BiB”)
|
52.0
|
|
46.7
|
|
99.1
|
Programming joint ventures, net
|
|
0.2
|
|
5.2
|
|
11.2
|
|
|
98.6
|
|
51.9
|
|
121.3
|
In the absence to date of results for KirchPayTV for the period from 1 July 2000 to 31 December 2000, the results for a similar period, to 30 September 2000, have been used.
5. Taxation
The taxation credit for the period of £0.1 million relates to the Group’s share of joint ventures’ tax credit of £0.1 million.
There is no mainstream UK corporation tax charge for the Group due to the use of brought forward losses.
Cumulative Advance Corporation Tax (“ACT”) of £71.3 million (1999/2000: £71.3 million) has been written off and has not yet been recovered.
6. Dividends
No interim dividend is proposed (1999/2000: nil).
7. Loss per share
Basic and diluted loss per share represents the loss attributable to the equity shareholders divided by the weighted average number of Ordinary Shares in issue during the period of 1,839,868,141 (1999/2000: half year 1,721,627,646; full year 1,744,379,069).
8. Intangible assets
The movement in the year is as follows:
|
|
Goodwill
|
Other
|
Total
|
|
|
£m
|
|
£m
|
|
£m
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
As at 1 July 2000
|
|
-
|
|
-
|
|
-
|
Additions
|
|
272.4
|
|
2.1
|
|
274.5
|
Amortisation
|
|
(17.9)
|
|
-
|
|
(17.9)
|
As at 31 December 2000
|
|
254.5
|
|
2.1
|
|
256.6
|
Provisional goodwill of £272.4 million arising on the acquisition of Sports Internet Group is being amortised over a period of 7 years on a straight line basis.
9. Fixed asset investments
|
|
31 December 2000
|
|
31 December 1999
|
|
30 June
2000
|
|
|
£m
|
|
£m
|
|
£m
|
|
|
(unaudited)
|
(unaudited)
|
(audited)
|
Joint ventures
|
|
|
|
|
|
|
- KirchPayTV
|
|
1,283.5
|
|
-
|
|
1,479.9
|
- British Interactive Broadcasting
|
20.0
|
|
12.2
|
|
17.7
|
- Programming joint ventures
|
23.9
|
|
15.9
|
|
14.7
|
|
|
1,327.4
|
|
28.1
|
|
1,512.3
|
Investment in own shares
|
19.1
|
|
27.5
|
|
27.5
|
Other investments
|
|
137.3
|
|
87.8
|
|
120.8
|
|
|
1,483.8
|
|
143.4
|
|
1,660.6
|
KirchPayTV
On 31 August 2000, KirchPayTV disposed of their remaining 58 million holding of BSkyB shares. The Group’s share of the loss on disposal was £69.5 million. The loss is calculated as BSkyB’s share of the difference between the balance sheet value of the 58 million shares at £15.21 per share (based on the value of the shares at the date of acquisition of 24% of KirchPayTV by BSkyB) and the net proceeds realised by KirchPayTV of £10.05 per share.
British Interactive Broadcasting
The Group has recognised 32.5% of the results of BiB up until November 2000, from which date 100% of BiB's losses have been recognised due to the agreement dated 17 July 2000, under which the Group agreed to provide 100% of BiB's funding after existing funding had been utilised.
Investment in own shares
At 31 December 2000, the ESOP held 3.35 million Ordinary Shares in the Company at an average value of £5.68 per share, primarily to hedge the obligations of the Group then outstanding under various share option schemes against further increases in the Company's share price.
Other investments
On 3 March 2000, the Group entered into arrangements with Chelsea Village Plc group ("Chelsea Village") to subscribe for ordinary and preference shares in Chelsea Village and to become their exclusive media agent, for total consideration of £40 million. The £40 million consideration includes £25 million which was paid on completion on 14 July 2000. Shares acquired in Chelsea Village Plc represent 9.9% of it's enlarged share capital.
At 31 December 2000 £24.5 million has been provided against minority investments in new media companies of which £24.0 million relates to investments held by the Group and £0.5 million relates to investments held by the BiB joint venture.
10. Provisions for liabilities and charges
|
|
|
Analogue termination provision
|
Transition provision
|
Sky In-Home Services Limited reorganisation provision
|
31 December 2000 Total
|
|
31 December 1999 Total
|
|
30 June 2000
Total
|
|
|
|
£m
|
|
£m
|
|
£m
|
£m
|
|
£m
|
|
£m
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
(unaudited)
|
|
(unaudited)
|
|
(audited)
|
At the beginning of the period
|
30.7
|
|
192.9
|
|
1.9
|
|
225.5
|
|
405.4
|
|
405.4
|
Charged to the profit and loss account
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
90.9
|
Utilised in period
|
(5.9)
|
|
(95.1)
|
|
(1.3)
|
|
(102.3)
|
|
(120.3)
|
|
(270.8)
|
At the end of the period
|
24.8
|
|
97.8
|
|
0.6
|
|
123.2
|
|
285.1
|
|
225.5
|
Do'stlaringiz bilan baham: |
