British Sky Broadcasting Group PLC's net subscribers grew by 62,000 in the first quarter to Sept 30 to 7.2 mln, beating analysts' expectations for a 40,000-50,000 rise.
The UK's largest satellite TV company said its second quarter began in line with expectations.
Total first-quarter revenues increases by 11 pct to 940 mln stg, while operating profit before amortisation of goodwill increased by 26 pct to 190 mln stg.
Earnings before amortisation of goodwill and exceptional items increased by 30 pct to 122 mln stg and EPS before goodwill and exceptional items was 6.3 pence, up 1.5 pence from a year ago.
"Sky achieved a solid set of results in the first quarter, with good sales and profit growth and we remain in a strong financial position," said chief executive James Murdoch.
"Our second quarter has commenced in line with expectations as we begin the important run up to Christmas"

FTSE 100 4,776.9, up 42.4
FTSE 250 6,535.7, up 40.0
DJIA 10,469.80, up 84.30
Nasdaq Coq 2,061.27, up 26.71
S&P 500 1,173.50, up 10.60
Tokyo: Nikkei closed at 11,019.98, up 173.06
Hang Seng midday 13,779.55, up 155.04
Gold 434.82 usd (434.62 usd)
Oil - Brent Dec 43.02 usd (44.75 usd)

BREAKING NEWS
* Chancellor Gordon Brown considering reductions in capital-gains tax to encourage individuals to return to the stock market - Times
* BMW's British head launches an extraordinary attack on the four owners of MG Rover, accusing the Birmingham businessmen of being "the unacceptable face of capitalism" and squandering the opportunity to save the UK carmaker - FT
* City prepares for a bitter takeover battle as MELROSE, set up to acquire struggling industrial companies, launches a formal 1.125 bln bid for NOVAR - FT
* K Capital partners sells the bulk of its 25 pct stake in JARVIS
* TESCO loses its second senior manager in less than a month after its emerges that Ken McMeikan, who had just been appointed head of Tesco Japan, quits to join J SAINSBURY

PRESS COMMENT
FT
THE LEX COLUMN comments on ROYAL & SUN ALLIANCE (RSA's management has done an excellent job, but the stock market has taken that into account), BASF (still suffers from a lower rating than rivals such as Dow Chemical and DuPont; that seems unduly niggardly), Coca-Cola, Deutsche Telekom (retain some attractions) - BIG FOOD GROUP (investors could do worse than sell in the market) - INVENSYS (others in the sector offer better prospects)
EXPRESS
WHO'S DEALING: SERVICEPOWER TECHNOLOGIES (chief executive snaps up 100,000 shares at 32 pence) - SHARE WHISPER: DESIRE PETROLEUM (speculation that SHELL or another oil major will become its partner in the North Falkland basin) - BROKER'S VIEW: BOOTS (Seymour Pierce hold)
Mail
MITIE (rumours that hungry private equity groups are running the slide rule over the group) - ERINACEOUS (Investec's Geoff Allum expects at least 20 pct outperformance in the share price)
Times
RUMOUR OF THE DAY: AEROBOX (talk that Seymour Pierce is closing its book on a 4.5 mln stg fundraising at 14 pence) - DIRECTORS' DEALINGS: SERVICE POWER TECHNOLOGIES (chief executive buys stock for 32,000 stg) - TErUS: PUNCH TAVERNS (buy), WINCANTON (worth holding), BIG FOOD GROUP (hold until a firm offer materialises)
Telegraph
QUESTOR: BG GROUP (hold), PUNCH TAVERNS (well worth hanging on), BARRATT DEVELOPMENTS (given the current uncertainty, you'd have to be brave to buy)
Independent
THE INVESTMENT COLUMN: SANTANDER (cash those Santander shares), LONDON STOCK EXCHANGE (look far too expensive to buy; the imperative to do a deal means existing holders should await developments), INVENSYS (gambling chips, little more)
Guardian
FKI (rumours of a takeover approach from a private equity group)
Investors Chronicle
TIPS (LARGE COrANIES): SCOtTISH & SOUTHERN ENERGY (sell), ALFRED MCALPINE (buy), SCI ENTERTAINMENT (buy) - TIPS (SMALLER COrANIES): PREMIER DIRECT (buy), BOND INTERNATIONAL (buy), UK BETTING (buy) - TIPS (UPDATES): NORHTGATE INFORMATION SOLUTIONS (still a buy), TOP TEN HOLDINGS (still good value), ABBOT GROUP (fairly priced), OMG (buy)

Today's UK company results

BSY British Sky Broadcasting Group PLC three months to September 30 2004
Total revenue - 940 mln stg vs 850 mln
Pretax profit before goodwill - 176 mln stg vs 131 mln
Pretax profit - 147 mln stg vs 127 mln
Profit after tax before goodwill - 122 mln stg vs 94 mln
Profit after tax - 93 mln stg vs 90 mln
EBITDA - 214 mln stg vs 175 mln
Operating profit before goodwill - 190 mln stg vs 151 mln
Operating profit - 161 mln stg vs 122 mln
EPS before exceptionals and goodwill - 6.3 pence vs 4.8
EPS - 4.8 pence vs 4.6

HRN Hornby PLC six months to September 30 2004
Sales - 18.97 mln stg vs 15.79 mln
Pretax profit - 2.63 mln stg vs 2.21 mln
EPS - 4.77 pence vs 4.08
Interim div - 2.0 pence vs 1.6 pay 28/01/05; books close 07/01/04

NTA Northacre PLC the six months to August 31 2004
Sales - 1.31 mln stg vs 1.81 mln
Pretax loss before goodwill - 929,000 stg vs loss 822,000
Pretax loss - 1.56 mln stg vs loss 1.21 mln
Loss per share - 6.87 pence vs LPS 5.32

RPP Ringprop PLC year to September 30 2004 vs 14 months to September 30 2003
Pretax loss - 1.14 mln stg vs loss 907,000
Group operating loss - 1.19 mln stg vs loss 964,000
Loss per share - 19.1 pence vs LPS 21.0

SJE James Smith Estates PLC six months to September 24 2004
Sales - 6.25 mln stg vs 4.06 mln
Pretax profit - 3.18 mln stg vs 3.29 mln
EPS - 13.0 pence vs 11.9
NAV - 422.0 pence, up 2.5 pct
Interim div - 2.85 pence vs 2.7 pay 10/01/04; books close 03/12/04

A quick good morning all. Hoping for a good end to the week :-)

Comment in the Times that the Chancellor is considering cutting CGT to encourage people back to the stock market!

About time to,,can you ask him if he will let me off the tax,i can see the next band on the horizon.

Morning all,

Cutting CGT? That won't make that much of a difference. What he should cut
(or should I say is remove) is stamp duty on share purchases.
That would have a bigger impact on bring people back into the stock market!

Maybe if he gave us some good stock picks that would be even better?

Would we trust them though GD?!

perhaps not jj.

The following is a compilation of UK company results due out in the two weeks to Nov 26.

MONDAY NOV 15
Chrysalis Group PLC. Evolution Securities forecasts year to August pretax profit 11.9 mln stg vs 8.4 mln; total dividend 0.7 pence, unchanged.

Luminar PLC six months to August pretax profit 24.5-27.0 mln stg vs 27.0 mln; interim dividend 4.0 pence, up 10 pct.

Thus PLC six months to September EBITDA 17-18 mln stg vs 20.6 mln.

TUESDAY NOV 16
Burberry Group PLC six months to September EBITA 75 mln stg vs 55.1 mln.

Business Post Group PLC. Arbuthnot Securities forecasts six months to September pretax profit 9.0 mln stg vs 8.1 mln; interim dividend 6.4 pence vs 5.9.

Emap PLC. Morgan Stanley forecasts six months to September EBITDA 104.5 mln stg vs 103.0 mln; pretax profit 94.5 mln stg.

Northern Foods PLC. Williams de Broe forecasts six months to October pretax profit before exceptionals 32.0 mln stg vs 32.5 mln; interim dividend 3.37 pence vs 3.3.

Vodafone Group PLC six months to September EBITDA 6.4 bln stg vs 6.6 bln; pretax profit 5.2 bln vs 5.4 bln; interim dividend 50-100 pct higher than 0.9535 pence last year.

VT Group PLC. Williams de Broe forecasts six months to September pretax profit 21.5 mln stg vs 20.0 mln; interim dividend 2.75 pence, up 7 pct.

WEDNESDAY NOV 17
GUS PLC six months to September pretax profit before exceptionals and goodwill 395-401 mln stg vs 354 mln; interim dividend 8.7 pence vs 8.0.

mmO2 PLC six months to September EBITDA 818 mln stg vs 621 mln; pretax profit 245 mln stg.

J Sainsbury PLC six months to September underlying pretax profit 125-135 mln stg vs 366 mln; interim dividend 2.15 pence vs 4.30.

THURSDAY NOV 18
BOC PLC fourth quarter to September pretax profit before exceptionals 118-135.8 mln stg vs 112.4 mln; year to September 484-5-1 mln stg vs 418.9 mln.

National Grid Transco PLC. Williams de Broe forecasts clean pretax profit 390-391 mln stg vs restated 373 mln.

SABMiller PLC six months to September pretax profit before exceptionals 995 mln usd vs 801 mln; EBITA 1 bln usd vs 889 mln; interim dividend 9.0 cents vs from 7.5.

MONDAY NOV 22
Cambridge Antibody Technology Group PLC. Evolution Securities forecasts year to September pretax loss 36.1 mln stg vs 41.8 mln.

TUESDAY NOV 23
Tribal Group PLC. Evolution Securities forecasts six months to September pretax profit 6.9 mln stg vs 7.0 mln; interim dividend 1.0 pence, unchanged.

WEDNESDAY NOV 24
Speedy Hire PLC. Evolution Securities forecasts six months to September pretax profit 9.0 mln stg vs 11.0 mln.

THURSDAY NOV 25
Capital Radio PLC. Evolution Securities forecasts year to September pretax profit 22.4 mln stg vs 22.8 mln; total dividend 18.5 pence, unchanged.