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

 


CORRECT: TVNZ 1H profit drops 26%, online revenues grow

CORRECT: TVNZ half-year profit drops 26 percent, online revenues grow

(Removes incorrect 4th par referring to dividend payment from FY11 period.)

Feb. 28 (BusinessDesk) - State-owned broadcaster Television New Zealand's earnings after tax for the six months to Dec. 31 fell 26 percent to $14.2 million as advertising revenues fell and the network spent an extra $10.5 million buying programmes, including top-rating New Zealand's Got Talent.

Total operating revenues of $193.9 million for the half-year compared with $199.7 million in the same period a year earlier, with advertising revenue falling to $165.3 million, from $168.0 million in the previous period.

Operating cash flows were markedly down at $13.7 million, compared with $31.8 million in the previous period, reflecting higher payments to content providers and the loss of government funding that occurred with the closure of TVNZ7.

Going against the trend for falling revenues was a 19.8 percent increase in "other operating revenue", mainly representing strong advertising revenue and viewer growth for TVNZ's online, on-demand programming product.

"Online is a currently a small part of our revenue, but it's a big part of our future," said TVNZ chief executive Kevin Kenrick in a statement.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Cyclone Cook: Round Up Of This Week’s Weather

One of the significant impacts this week was flooding due to excessive rainfall amounts. Rainfall amounts topped out at 350mm over the past 60 hours in parts of northwest Nelson, with 200mm+ measurements recorded about Coromandel Peninsula, and between 150-200mm in the Kaimai Ranges. Rainfall amounts of between 30-50mm were commonplace elsewhere. More>>

ALSO:

Earlier: Batten Down The Hatches For Cyclone Cook

Although fast-moving, Cyclone Cook will be destructive and MetService Expert Meteorologists have issued Severe Wind Warnings for the whole of the North Island apart from Northland... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news