24 Aug 2012

Sky TV lifts its profit 2%

11:25 pm on 24 August 2012

Pay television operator Sky Network has reported a slightly stronger profit.

The company made a profit of $122.8 million in the year to June, an increase of 2% compared to the previous year.

Revenue rose 6 percent to $843 million due to Sky attracting more users, while subscribers paid more for MySky and channels such as SoHo.

Sky has 847,000 customers, and it's present in 49% of New Zealand households.

The churn rate, which measures disconnections, edged up slightly to 14.2%.

Looking ahead, Sky is expecting a flat performance over the coming year .