FIRST CUT: Sky TV FY profit falls 21% as programme costs rise, subscription revenue drops

Mon, 21 Aug 2017

By Tina Morrison Aug. 22 (BusinessDesk) - Sky Network Television, which dropped a merger plan with Vodafone New Zealand after it was rejected by the Commerce Commission, posted a 21 percent decline in annual profit as content costs increased, and revenue and subscriber numbers fell. Profit slid to $116 million, or 29.82 cents per share, in the 12 months ended June 30, from $147.1 million, or 37.7 cents, a year earlier, the Auckland-based company said in a statement. Revenue dropped 3.7 percent to $893.5 million while operating expenses sl...

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