Sky Network increases profit, dividend as it battles increased rivalry

Thu, 22 Aug 2013

By Pam Graham Aug. 23 (BusinessDesk) – Sky Network Television has reported a 10.9 percent rise in annual profit as its subscriber base rose to a record in the face of competition from new content providers. The pay-TV operator reported net profit after tax of $137.2 million in the year to June 30, up from $123.7 million in the previous year, and exceeding the First NZ Capital forecast of $133.2 million. Earnings before interest, tax, depreciation and amortisation increased by 5.1 percent to $353 million. Coverage of the summer Olympics in...

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