Embattled Australian regional pay TV and Internet service provider Austar has foreshadowed a multi-million dollar loss after abnormals for the year 2000.
"Currently, the company estimates that its operating loss after abnormal items will be approximately AU$320 million for the year ended 31 December 2000," a company statement said.
Austar spokesperson, Bruce Meagher said abnormal items were accounting changes in relation to the business that was formed prior to its float.
These items will be formally released on Thursday, 15 March 2001 when Austar finalises its results.
The announcement was made to the Australian Stock Exchange today, just before the company issued a trading halt on its shares.
Austar said it was unable to comment on the loss.
The troubled operator recently announced a slide in its subscriber base, amounting to 5,100 fewer customers in the three months to December 2000.
