18 Feb 2011

MySky demand helps lift Sky TV profits 18.9%

1:16 pm on 18 February 2011

Sky Network Television has lifted its half year profit on the back of increased demand for its MySky television service and stronger advertising sales.

The pay television operator made $60 million in the six months to December, an increase of 19% on the same period a year ago.

Revenue rose 8% to $398 million, with the number of subscribers moving to the premium MySky service increasing by 60% to just over 230,000.

Advertising revenue increased 26%.

Sky Network Television chief executive John Fellet says MySky now represents almost 30% of the company's satellite subscribers.

The company will pay an interim dividend of 8 cents per share.