TVNZ posts 6.2% decline in first-half earnings as ad revenue falls faster than expenses

Wed, 22 Feb 2017

By Jonathan Underhill Feb. 22 (BusinessDesk) - Television New Zealand posted a 6.2 percent decline in first-half earnings as advertising revenue fell faster than operating costs, which the state-owned broadcaster said was a creditable performance in a declining TV market. Earnings before interest, tax, depreciation, amortisation and changes in the value of financial instruments fell to $26.7 million from $28.5 million a year earlier, the Auckland-based company said in a statement. Advertising revenue fell 5 percent, or about $8.7 million...

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