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Sky TV lifts half-year profit 9 percent

Friday 22 Feb 2013 12:29 p.m.

Sky Network Television, the pay-TV company 44 percent owned by News Corp, has reported a 9 percent gain in first-half profit as subscribers migrated to its My Sky premium service and spent more.

Profit rose to $68.2 million in the six months ended Dec 31, from $62.7 million a year earlier, the Auckland-based company said in a statement.

Sales rose 3.9 percent to $443 million.

The total number of subscribers to Sky TV's services was little changed at 846,988 at Dec 31 from a year earlier, but the number on My Sky climbed 28 percent to 423,973.

Average revenue per subscriber (ARPU) rose to $75.78 overall from $71.81 a year earlier, while My Sky ARPU rose to $87.39 from $84.71.

Sky TV lifted its full-year profit guidance to a range of $125 million to $130 million, from a previous $120 million to $125 million, and said capital spending would be lower at $90 million to $100 million, from $150 million to $160 million.

It will pay an interim dividend of 12 cents, up from 11 cents a year earlier.

The shares climbed 2.6 percent on Thursday to $5.17, having edged up 6.4 percent over the past 12 months.

NZN

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