Sky TV profit more than triples

Sky TV CEO Sophie Moloney and chair Philip Bowman. The company stripped out costs as revenue dropped for the six months to December 31.

Staff reporters

Tue, 23 Feb 2021

Sky TV CEO Sophie Moloney and chair Philip Bowman. The company stripped out costs as revenue dropped for the six months to December 31.Sky TV profit more than tripled as the pay-TV operator got some relief on the cost of programming, as the pandemic put production and sports events on hold.The company reported a net profit of $39.4 million in the six months ended Dec 31 from $11.9m a year earlier. While revenue dropped 7.3% to $356.9m, the media group cut expenses by 16.4% to $297.9m, including a $33m saving on programming,Those were largely on...

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