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

 

TVNZ Announces Annual Result

TVNZ has announced its fiscal year 2000 annual results recording increased revenues, and ratings on both channels currently at a four year high.

The company recorded a net surplus after taxation of $43.1 million for the year * a $7.4 million increase on the same period last year (excluding the one off gains made on the sale of CLEAR Communications and Sky Network Television shares in the prior year).

TVNZ has declared dividends for the year totaling $30.2 million.

TVNZ Chief Executive, Rick Ellis, says group revenue increased by $44.1 million to $473.4 - an increase of 10.3% on the same period last year,

Advertising revenue of $295.8 million was a 6% ($16.8 million) increase on last year.

"This represents the highest recorded annual advertising revenue for the company and reflects the outstanding ratings performance of both TV ONE and TV2."

TVNZ's operating surplus increased by $16.3 million (22.7%) on the same period last year. "This has been achieved notwithstanding significant costs incurred in bringing major sporting, political and cultural events to the public of New Zealand, including the Americas Cup, Rugby World Cup, World Netball Championships, APEC, the General Election, and the Millennium," says Rick Ellis.

"In addition to the excellent performance of the television business, the transmission and network services businesses locally and in Australia are performing exceptionally well," he says. "And the company's new web business, nzoom.com, has established itself as one of the most visited and comprehensive local content internet sites in New Zealand."

TVNZ Chairman, Ross Armstrong, says "This 2000 Annual Report represents one of the most demanding 12 month periods in TVNZ's history * it has certainly been one of the most challenging and exciting.

"The Board is confident that TVNZ, with its strengths of financial performance, audience share, programming lineup, and superb staff, is in an excellent position to both meet the expectations of its shareholders and take advantage of the myriad of opportunities opening up in the converging and evolving digital media world." ends

For further information contact: Liam Jeory, Public Affairs Manager Phone: 09 9167565 Mobile: 021 416400 The report is available on the TVNZ website: www.tvnz.co.nz


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>



Environment: Preliminary Environmental Data On New Zealand’s Air Quality Released Today

The Ministry for the Environment and Stats NZ have published the Our air 2021: preliminary data release today. We are currently working to revise the Our air 2021 report to incorporate analysis of the World Health Organization (WHO) 2021 air quality guidelines that were released on 23 September 2021... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>