Sky TV warns of 2016 profit fall on new service investment, shares drop 12%

Wed, 21 Oct 2015

By Fiona Rotherham Oct. 21 (BusinessDesk) - Sky TV has warned shareholders today of a forecast drop in net profit of between $14 million and $16 million for the 2016 year due to higher costs rolling out new services and increased programming costs, including for the Rugby World Cup. The shares dropped 12 percent. At the same time at today’s annual meeting in Auckland, the pay TV operator came under fire from the New Zealand Shareholders Association for its disclosure and transparency in a resolution asking for a $200,000 a year increase i...

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