TVNZ boosts first-half profit jumps 47 percent as ad revenue recovers, writes off Igloo investment

Thu, 27 Feb 2014

By Paul McBeth Feb. 27 (BusinessDesk) - Television New Zealand, the state-owned broadcaster, boosted first-half profit as advertising revenue gained and operating costs fell, and has written down the value of its investment in a joint venture with pay-TV operator Sky Network Television. Net profit rose to $20.8 million in the six months ended Dec. 31, from $14.2 million a year earlier, the Auckland-based state-owned enterprise said in a statement. Operating revenue rose 3 percent to $201.9 million, with a 2.4 percent lift in TV advertising...

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