22 Aug 2014

Sky Network's profit rises 21%

6:21 pm on 22 August 2014

Sky Network Television's full-year net profit rose almost 21 percent, due in part to it gaining more customers and charging higher fees for the range of programme packages it offers.

The pay-TV operator's profit was almost $166 million for the year ended June while sales rose 3 percent to $909 million.

Sky Television said the result was stronger as a result of an increase in customers.

It added just over 9000 customers on a net basis while customer turnover dropped more than a percentage point to just over 13 percent.

Sky's viewership rose to 158 hours a month from 151 hours the previous year and its market share climbed to 29.4 percent from 28.7 percent.

The company has announced plans to roll out some new video-on-demand products in the current year.

It also plans to update all older-style decoders to provide subscribers with newer technology.

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