Sky has reported a challenging first half of the financial year, impacted by the satellite migration project and economic headwinds.

The company's revenue of $385 million was 2% lower than the same period last year, while underlying ebitda was $60.7 million and net profit after tax was $10.9m.

Sky's board declared an interim dividend of 8.5 cents per share, with dividend guidance unchanged at no less than 21 cents per share.

However, the company provided updated guidance, narrowing and slightly lowering the previously published ranges for revenue, ebitda, and npat in fy25.

Sky's strategy and business model remain sound, with positive trends in streaming, advertising, and broadband, it said.

The successful migration of customers to the new satellite is expected to be completed in early April.

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