Rupert Murdoch’s News Corporation has reported a 27 per cent profit boost year-on-year in the last quarter as it filed its year-end results showing total profit up from £1.7bn to £2.7bn.

News Corp, the parent company of News International, publisher of The Sun and the Times, reported profits of £565m in its fourth quarter ending 30 June thanks to its sprawling global assets in film, TV and newspapers.

Chairman and chief executive Rupert Murdoch declared himself ‘delighted’at the result but warned that the company faces ‘macro-economic challenges’in the coming business year. He said that challenges in world markets would lead to ‘somewhat less robust growth”.