Consolidated Media Holdings Ltd
(ASX:CMJ) has reported a statutory net profit after tax of $346.2 million for the first half of fiscal 2010 down 11.6% on the first half of fiscal 2009.
The result includes a number of abnormal items including a profit of $305.1 million from the sale of its stake in SEEK, and a one-off valuation gain from PBL Media of $346.5 million.
Operating profit after tax not including these items came to $43.7 million up 17.8% compared to the same period a year ago.
The company says the improvement in operating earnings for the first half reflects contributions from its investments in FOXTEL and Premier Media Group and the ongoing focus on reducing corporate costs, improved interest revenue and the reduced income tax expense.
ConsMedia declared a dividend of 10.5 cents a share. Consolidated Media Holdings fiscal 09 profit was $426.99 million.
