SKT
22/08/2014 08:44
FLLYR
REL: 0844 HRS Sky Network Television Limited
FLLYR: SKT: SKY TV Announces 2014 Annual Result
For the year ended: 30 June 2014
This report has been prepared in a manner which complies with New Zealand
International Financial Reporting Standards and gives a true and fair view of
the matters to which the report relates and is based on audited financial
statements.
CONSOLIDATED INCOME STATEMENT
Current Full year NZ$'000; Up/Down %; Previous Corresponding Full year
NZ$'000
Total Operating Revenue: 909,001; Up 2.7%; 885,024
OPERATING SURPLUS BEFORE TAXATION: 224,507; Up 18.8%; 188,995
Less taxation on operating profit: 63,084; Up 11.1%; 56,780
NET PROFIT AFTER TAX: 161,423; Up 22.1%; 132,215
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS: 165,829; Up 20.9%; 137,197
Earnings per share: 42.61 cps; Up 20.9%; 35.26 cps
SKY Network Television Limited ("SKY") announced today the result for the
year ended 30 June 2014. The net profit after tax attributable to equity
holders of SKY has increased to $165.8 million, a 20.9% increase from the
prior year's net profit after tax of $137.2 million.
Earnings before interest, tax, depreciation and amortisation ("EBITDA")
increased by 7.3% to $379 million.
SKY's total revenue increased by 2.7% to $909 million.
SKY's subscriber base grew by 9,157 (1.1%) subscribers over the previous
year, to a new high of 865,055. The subscriber base comprises 826,448
residential digital subscribers and 38,607 commercial and other subscribers.
SKY is now in 49% of New Zealand homes.
SKY has continued to promote its MYSKY HDi decoder and at 30 June 2014
504,713 subscribers were receiving their pay television services via a MYSKY
decoder compared to 456,419 subscribers at 30 June 2013. This represents
61.1% of SKY's residential subscribers compared to 55.5% of residential
subscribers at 30 June 2013.
Average revenue per subscriber per month ("ARPU") increased by 2.2% to $77.52
from $75.83 last year.
Annual gross churn has decreased to 13.2% during the 2014 year from 14.4%
last year. MYSKY churn was 10.9% and churn on standard digital decoders was
16.8%.
The SKY Board has declared a fully imputed final dividend of 15 cents per
share.
End CA:00254247 For:SKT Type:FLLYR Time:2014-08-22 08:44:49
