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Star Group's profit likely to cross $ 100 million: MPA

23-February-2005
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Star Group's profit likely to cross $ 100 million: MPA

According a Media Partners Asia (MPA) report, Star Group is expected to make a profit of over $ 100 million for the fiscal ending June 2005. These profits for News Corp's pan-Asian venture are due to its Indian operations.

As per MPA estimates, Star could deliver at least $109 million in operating income for FY 2005, driven largely by India. However, its Xing Kong operations in China are also expected to breakeven.

MPA forecasted a revenue growth of 16 per cent through FY 2005 with advertising growth in India expected to reach between 20-30 per cent. Other contributors to this growth would be Taiwan, China and South East Asia. The report said Star has more than doubled its consolidated operating income to an estimated $29 million despite the cost incurred in launching Star One.

It indicated that Star revenues grew by six per cent during the December 2004 quarter, which MPA estimated up to $133 million. This has been driven largely by advertising gains by Star Plus in India and subscription revenue growth due to the launch of Star Chinese Movies in South-East Asia.

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