TVNZ ekes out 1.4 percent lift in annual profit, ahead of forecast, misses revenue target

Tue, 03 Sep 2013

By Paul McBeth Sept 4 (BusinessDesk) - Television New Zealand, the state-owned broadcaster, lifted annual profit 1.4 percent, slightly ahead of its Statement of Intent forecast, though missed its target for revenue. Net profit rose to $14.4 million in the 12 months ended June 30, from $14.2 million a year earlier, and ahead of the $14 million forecast in the SOI, the Auckland-based company said in a statement. Underlying earnings fell 5.7 percent to $26.3 million, and 5.1 percent was trimmed from operating expenses to $335.8 million. Total...

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