Net profit down but Sky remains optimistic

Sky TV's CEO and chair are confident its half-year results show the company is moving forward. (Image: supplied)

Thu, 24 Feb 2022

Sky TV reported net profit after tax of $28.3 million in its half year results to Dec 31, 2021, down from $39.6m the corresponding previous period.Chief financial officer Tom Gordon said a step up in rights costs to content partners contributed to a rise in operating expenses, as Sky didn’t see the same covid-19 related negotiated reductions it did the year prior. Programming expenses were up to $178.4m from $141.7m. Revenue was up 4.1% from $356.9m to $371.7m, a rise the company put down to Sky Box revenue stabilising to $252.4...

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