Sky TV says 2017 charges higher than forecast due to accounting error

Wed, 19 Oct 2016

By Tina Morrison Oct. 20 (BusinessDesk) - Sky Network Television increased its annual forecast for depreciation, amortisation and impairment charges, citing a timing error. The Auckland-based pay-television broadcaster expects the costs will amount to $109.1 million in the year ending June 30, 2017, ahead of its earlier forecast of $101.3 million, owing to an error in the start date of depreciation for some assets transferred from work in progress to fixed assets, it said in a statement. The error has no cash flow impact, it said. The...

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