Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Sky TV lifts 1H profit 9% as subscribers spend more

Sky TV lifts 1H profit 9% as subscribers spend more, migrate to My Sky

Feb. 22 (BusinessDesk) – Sky Network Television, the pay-TV company that’s 44 percent owned by News Corp, reported a 9 percent gain in first-half profit as subscribers migrated to its My Sky premium service and spent more.

Profit rose to $68.2 million in the six months ended Dec. 31, from $62.7 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.9 percent to$443 million.

Total subscribers to Sky TV’s services was little changed at 846,988 at Dec. 31 from a year earlier though the number on My Sky climbed 28 percent to 423,973. Average revenue per subscriber, or ARPU, rose to $75.78 at Dec. 31 from $71.81 a year earlier. My Sky ARPU rose to $87.39 from $84.71.

Sky TV lifted its full-year profit guidance to a range of $125 million to $130 million, from a previous $120m million to $125 million, and said capital spending would be lower at $90 million to $100 million, from $150 million to $160 million.

It will pay an interim dividend of 12 cents, with a record date of March 8, from 11 cents a year earlier. The shares climbed 2.6 percent to $5.17, having edged up 6.4 percent over the past 12 months. The stock is rated ‘outperform’ based on a Reuters poll of nine analysts, with a median price target of $5.47.

Gross churn rose to 14.6 percent in the first half from 14.2 percent, though for My Sky HDi, churn was 10.4 percent.

Programme operating costs rose 11 percent, mainly reflecting the costs of hosting the London Olympics. Sales and marketing fell by $7.1 million, reflecting an increased spend the year earlier for the Rugby World Cup.

Capital expenditure fell to$42.8 million in the first half from $69.6 million, reflecting lower decoder and installation costs. Advertising revenue fell 9.5 percent to $35.3 million.

Total operating expenses rose 3.3 percent to $333.8 million, led by programming rights and operations.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Wool Exports Jump To The Highest In More Than A Decade

New Zealand wool exports jumped to their highest level in more than a decade in June, aided by a lower currency and strong demand from China, the nation’s largest market. More>>

ALSO:

Surreal Estate: Home Values Rise At Fastest Rate In Seven Years

The latest monthly QV House Price Index shows that nationwide residential property values for July have increased 10.1% over the past year which is the fastest annual rate since 2007... The Auckland market has increased 18.8% year on year. More>>

ALSO:

New Employment Laws: Talley’s AFFCO Workers To Strike

The decision comes after the Talley’s owned company walked away from mediation last week and applied to end bargaining under the government’s new employment laws - the first such application since the law came into effect. More>>

ALSO:

Private Action: Employer Pleads Guilty Over Forestry Death

The CTU has always known that the death of forestry worker Charles Finlay was due to the poor health and safety practices of his employer... "The CTU, with the support of Charles’s family, needed to take this ground breaking private prosecution." More>>

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news