SKT
26/02/2016 09:02
HALFYR
PRICE SENSITIVE
REL: 0902 HRS Sky Network Television Limited
HALFYR: SKT: SKY TV Announces 2016 Interim Results
For the half year ended: 31 December 2015
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 Half year NZ$'000; Up/Down %; Previous Corresponding Half year
NZ$'000
Total Operating Revenue: 475,554; Up 2.4%; 464,506
OPERATING SURPLUS BEFORE TAXATION: 121,371; Down 5.4%; 128,269
Less taxation on operating profit: 34,034; Down 4.9%; 35,774
NET PROFIT AFTER TAX: 87,337; Down 5.6%; 92,495
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS: 87,092; Down 5.8%; 92,471
Earnings per share: 22.38 cps; Down 5.8%; 23.76 cps
SKY reached 860,445 customers at 31 December 2015, up from 851,561 at 30 June
2015.
Our core traditional customer purchased more content from us. This drove our
ARPU to record levels of $79.56 up from $79.43 reported at 31 December 2014.
Churn on our satellite pay TV platform for the six month period ending 31
December 2015 was an annualised 15.4% compared to 14.5% for the year ended 30
June 2015.
As expected in a period of rapid change and considerable competition,
pressure has been placed on financial performance. Despite this, total
revenue has increased by 2.4% for the
period to $475.6 million and can be attributed to the aforementioned increase
in ARPU and
a stellar advertising sales period up 17% or $6 million over the previous
period.
Operating costs have increased 5.4% to $343.9 million, resulting in a weaker
operating profit of $131.7 million, a decrease of 4.8%. Programming costs
have increased with greater competition to acquire content and inclusion of
Rugby World Cup and over the top (OTT) content rights. These costs increased
10.3% over the comparative period.
The SKY Board has declared a fully imputed interim dividend of 15 cents per
share(Refer attached Appendix 7).
End CA:00278377 For:SKT Type:HALFYR Time:2016-02-26 09:02:18
