Sky TV bullish on advertising, reports $51m profit

One-offs from the last financial year included gains from the $56m sale of the group’s Mt Wellington properties. (Image: Sky)

Daniel Dunkley

Thu, 24 Aug 2023

Sky Network Television says it is defying the advertising slowdown after making a $51 million profit in the 2023 financial year.The television broadcaster reported a fall in profit of 18% in the 12 months to June 30, but post-tax profit rose by 15% when adjusted for one-off items. One-offs from the last financial year included gains from the $56 million sale of the group’s Mt Wellington properties.Revenue rose by 2% to $754m for the year as Sky increased prices for its satellite and streaming customers. Streaming revenue drove the wider i...

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