Sky NZ profits up by a quarter

Sky TV New Zealand announced a NZ$97.7 million profit for the year to end-June, a 26% increase on the previous year.
The pay-TV operation saw subscriptions up 5.3%, or 37,365 subs, to reach 748,576. That represents 46% of New Zealand homes.

Since launch of high-definition services and the next-generation PVR, MySky HDi, in the third week of July, the company said it had taken over 13,000 orders for the device and programming offer. The first-generation PVR, MySky, had 27,764 subs, despite being available since December 2005.

But the companyís mobile TV offering, Sky Mobile TV, on Vodafoneís 3G service, has just 8,427 subs, despite being on offer for close to 18 months and just NZ$2.50 a week. Channels on offer invlude Discovery, CNN, Sky News, Sky Sport Highlights, E!, Cartoon Network and MTV.

And buy rates for pay-per-view TV are dropping, down from 28% of subs buying each month to 27% (although actual buys are up from 1.97 million to just over 2 million).

Total revenues rose 6.5% to NZ$658.8 million, with operating expenses up 6.3% to NZ$392.2 million and EBITDA up 6.9% to NZ$266.6 million.