4 Sep 2012

Igloo helps boost TVNZ profit

5:14 am on 4 September 2012

Television New Zealand has reported a rise in profit in part due to the company's share in start-up costs of the TV service Igloo.

The company's profit increased to more than $14 million in the year to June, compared with last year.

However, underlying earnings dropped about $3.8 million to about $27.9 million as the cost of making programmes rose.

TVNZ will pay a dividend to the Government of $11.2 million, compared with $13.8 million in the previous year.