29 Aug 2014

TVNZ posts 25% increase in profit

7:34 pm on 29 August 2014

TVNZ earned $18.1 million in the year to June, a 25 percent increase in its net profit after tax compared with the previous year.

The company says this result met its target.

The state-owned broadcaster said underlying earnings increased by a more modest 7.5 percent, which was affected by the sale of property, plant and equipment.

TVNZ said growth in digital media was the standout performer with revenue from TVNZ Ondemand rising 78 percent.

Advertising revenue was up 30 percent.

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