THE film and television units of Rupert Murdoch's global media group, News Corp, helped push profits up 54 per cent in the nine months ending March, paving the way for record annual earnings of A$1.25 billion (about HK$6.88 billion).
But analysts expect earnings growth to slow over 1995 and possibly 1996 as a result of the cost of a spate of recent purchases.
News Corp's net after-tax profit for the period ending March 31 rose to $991.6 million, at the lower range of analysts' expectations. The result included a $139 million abnormal gain.
News Corp attributed the sharp profit rise to its film and television units, and continued earnings strength in its 50 per cent-owned British satellite service BSkyB.
Operating profits in the film entertainment group outperformed all other areas, rising 141 per cent from the same period last year, due to the strong performance of the film Mrs Doubtfire, the company said in a statement.
It grossed more than US$400 million for News Corp's Twentieth Century Fox Film division - its most lucrative film since Home Alone in 1991.