Sky TV shares dip as investors react to loss of subscribers; 1H profit gains

Mon, 23 Feb 2015

By Fiona Rotherham Feb. 23 (BusinessDesk) - Shares of Sky Network Television dropped 0.9 percent today after the country’s dominant pay-TV operator delivered a strong first-half profit, but had a net loss of 8,707 subscribers. Net profit was $92.5 million in the six months ended Dec.31, up 13 percent on the previous period mainly due to lower depreciation and amortisation expenses at $54.1 million and a 31 percent drop in financing costs to $10 million, due to borrowings reducing last year, the company said in a statement. Revenue was...

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