Sky TV profits up 17pc, subscribers grow

Sky TV says 24.4pc of its residential customers now have its MYSKY HDi decoder. Photo / Brett Phibbs

Sky Television has reported a 16.9 per cent rise in annual profit on a 7.2 per cent rise in revenue and 3 per cent rise in subscriber numbers.

The pay television operator now has 777,636 residential digital subscribers and 24,761 commercial and other subscribers. It is in 47.9 per cent of New Zealand homes.

The company said 24.4 per cent of its residential subscribers are now using its MYSKY HDi decoder, up from 14.2 per cent last year.

Average revenue per subscriber per month increased by 5.6 per cent to $67.61 from $64.00 last year.

The company made a net profit after tax of $103 million in the year to June 30, up 16.9 per cent on last year.

Earnings before interest, tax, depreciation and amortisation increased by 10.2 per cent to $287.5m. Revenue increased by 7.2 per cent to $741.8m.

The company is paying a final dividend of 7 cents per share, giving a total dividend for the year of 14c.

Sky's subscriber base grew by 23,495 subscribers over the previous year, to a new high of 802,397.

Annual gross churn has decreased to 13.9 per cent during the 2010 year from 14 per cent last year. MYSKY churn was 10.1 per cent.

- NZPA