26 Aug 2011

HD TV boosts Sky profit

12:16 pm on 26 August 2011

High definition television broadcasts have helped boost pay Sky TV's annual profit by 17%.

The company, which has products in nearly half of New Zealand homes, made $120.3 million in the year to the end of June, compared with 103 million a year ago.

Chief executive John Fellett says revenue rose more than 7% due to growth in high value services, such as high definition broadcasts.

New subscriber numbers rose 3.4% to almost 830,000 but Sky expects to lose a significant number after the Rugby World Cup.