Leading European satellite operator SES reported a 10 percent rise in first-half core profit on Monday, just above expectations, on the back of an acquisition last year and strong broadcaster demand.
SES, one of the world's largest commercial satellite operators, also said 2007 figures would be at the top end of previous guidance and promised shareholders sharply higher dividends. SES shares were down 1.7 percent at 15.73 euros at 1030 GMT. The DJ Stoxx European media index was off 0.5 percent. Analysts, nevertheless, said the results were fairly solid and welcomed the raised guidance and higher dividend.
EBITDA (earnings before interest, tax, depreciation and amortisation) rose to 548.2 million euros ($751.5 million), versus the average forecast of 545.3 million euros from a Reuters poll of seven analysts.