SES Global Profits Slip In First Half Of 2007
SES Global saw solid revenue and operating profit increases in the first six months of 2007, but the satellite operator’s net profit slipped, the company announced August 6.
For the period ending June 30, SES Global reported overall revenues of 789.1 million euros ($1.1 billion), an increase of 11 percent compared to the same period in 2006. The operator also saw operating profits reach 298.8 million euros ($411.7 million), an increase of 7 percent compared to a year ago.
However, net profits for the first half of 2007 were 207.8 million euros ($286.3 million), down almost 4 percent compared to last year. SES blamed the decline on a one-time charge of 11.6 million euros ($16 million) after tax for the loss of the NSS-8 satellite in a January launch failure. SES also said 2006 net profits included a gain of 15.4 million euros ($21.2 million) related to the disposal of SES Ré.