SKY TV 1H profit rises 22 percent as programming costs fall, more subscribers switch to MY SKY service

Sun, 23 Feb 2014

By Tina Morrison Feb. 24 (BusinessDesk) – Sky Network Television, New Zealand’s dominant pay-TV company, posted a 22 percent gain in first half profit as it benefited from lower programming costs and as more subscribers switched to its premium MY SKY service. Net profit increased to $82.1 million in the six months ended Dec. 31, from $67.4 million in the year earlier period, Auckland-based Sky TV said in a statement. That beat First NZ Capital estimate of $74.1 million. Revenue rose 2.9 percent to $456.4 million and programming costs dropped...

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