IN THE PAPERS
In the papers 7 February
07-02-2008
by Sylvia Leatham
Garda digital radio service delayed | BT Group posts 30 percent drop in pre-tax profits
The Irish Times reports that Sky Ireland added 22,000 new customers in the quarter to the end of December last. Read more on this story on ENN.
The paper also says that Payzone has conceded before the High Court that the purported termination last month of the contracts of CEO John Nagle and CFO John Williamson was invalid, null and void and of no effect. However, the e-payments firm rejected the men's claim that they are entitled to damages apart from their legal costs to date.
The same paper reports that it will be another two years before a national digital radio service is rolled out for Gardai, it emerged in the Dail. A new secure communications system for the Garda was first promised in 1999. The Government has said that the roll-out of a new system could begin in a few weeks once a framework agreement is signed, and it "is expected to be fully completed within a two-year timeframe", according to Minister for Communications Eamon Ryan.
According to the Financial Times, BT Group posted a 30 percent fall in pre-tax profits and missed revenue targets for the third quarter, as competition in the broadband market and a decline in premium-rate calls hit the company. The telecoms group reported a 1 percent rise in group revenue to STG5.15 billion in the three months to the end of December, just short of analysts' expectations. Pre-tax profit for the period fell to STG447 million, down from STG639 million in the same period last year, on the back of restructuring costs of STG76 million.
The Wall Street Journal says that Sony has won the fierce competition in the US for TV sales during the holiday season, and shipped the highest number of LCD TVs. The Japanese electronics company had a slow start last year because it was late in offering a lineup of fully digital LCD TVs, but it jumped four spots from the previous quarter to take a 12.8 percent share in the key October-to-December period, according to the latest data by research firm DisplaySearch. This was the first time Sony took top share in North American LCD TV shipments.
The paper also reports that EDS posted a 13 percent drop in earnings and 2 percent growth in revenue for the fourth quarter amid a slump in the technology outsourcing business. The company said it expected revenue growth of approximately 2 percent for this year, down from its sales growth of 3.76 percent in 2007. EDS also slightly missed its target of USD900 million in free cash flow for the end of the year, coming in at USD892 million.
The same paper says that France Telecom posted a 52 percent rise in 2007 net profit, helped by disposals, improving margins and lower taxes. Net profit rose to EUR6.3 billion from EUR4.14 billion in 2006, when results were hurt by a EUR2.8 billion goodwill write-down. Revenue rose 2.4 percent to EUR52.96 billion.
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