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

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news