FIRST CUT: Sky TV 1H profit falls 32% as programme costs rise, subscribers fall

Tue, 21 Feb 2017

By Tina Morrison Feb. 22 (BusinessDesk) - Sky Network Television, which is awaiting a decision from the Commerce Commission on a proposed merger with Vodafone New Zealand, posted a 32 percent drop in first-half profit as content costs increased, and revenue and subscriber numbers fell. Profit slid to $59.3 million, or 15.24 cents per share, in the six months ended Dec. 31, from $87.1 million, or 22.38 cents, in the year earlier period, the Auckland-based company said in a statement. Revenue dropped 3.7 percent to $458.2 million while ope...

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