21st Century Fox lifts FY profit

Group's revenue rises on new purchases, cable programming growth.

21st Century Fox (FOX) has posted a sharp lift in full-year profit, after its demerger from News Corporation in the same period, buoyed by the acquisition of additional ownership stakes in Sky Deutschland and ESPN Star Sports.

In the full year to June 30, 21st Century Fox posted a net profit of $US6.82 billion ($A7.66275 billion), up from $US3.176 billion recorded in 2012.

Revenue in the same period came to $27.675 billion, a 9% increase on the previous year's $25.051 billion.

On June 28, News Corporation was separated into two businesses: 21st Century Fox, which retains the group's media and entertainment interests, and the new News Corporation, which controls publishing, digital education and Australian media businesses.

21st Century Fox said nearly three-quarters of its increase in revenue reflects growth at the cable network programming, filmed entertainment and television segments, including purchases.

"The balance of the growth primarily relates to the inclusion of Sky Deutschland AG revenues beginning in January 2013."

The group also noted 'other' net income in the period of $US3.76 billion, a significant lift on the $US66 million in the previous year, due primarily to gains on the acquisition of additional ownership stakes in Sky Deutschland and ESPN Star Sports, which is now operating as Fox and Star Sports Asia.

The divested News Corporation is the owner of Eureka Report.

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