Television New Zealand has declared a profit of $14.4 million for the year to June, slightly more than the previous year, and is selling two properties.
The Government-owned broadcaster said its revenue fell by $20 million in the year, mainly because the Government grant to run the public service channel TVNZ 7 was cut.
However, advertising revenue was down by $6.6 million. Income from the company's online service, TVNZ On Demand, was up by 21%.
