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Sky TV lifts annual net profit 16.8%

Sky TV lifts annual net profit 16.8%

Aug. 26 (BusinessDesk) -Sky Network Television Ltd. said annual net profit rose 16.8% as subscriber numbers grew to a record and more switched to MySky.

The pay TV operator said net profit for the year ended June 30 rose to $120.3 million from $103 million the previous year as revenue rose 7.4% to $796.9 million.

Subscriber numbers grew 3.4%, or by 27,024, to 829,421 during the year and Sky said it is now in 48.7% of New Zealand homes. MySky subscribers rose to 279,875 from 189,975 a year earlier, now 35% of total subscribers compared to 24.4% a year earlier.

That helped average revenue per subscriber (ARPU) climb 5.6% to $70.45 from $67.61 last year.

Gross churn nudged higher at 14% from 13.9% but MySky churn was only 10.1%.

Sky will pay a fully imputed final dividend of 10.5 cents per share, up from 7 cents last year, as well as a special 25 cents dividend, taking the payout for the year to 51.5 cents compared with 14 cents last year.

Sky shares closed yesterday at $5.75, down from its July high at $5.92 but well up on its year low at $4.92.

(BusinessDesk)

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