Photo: Supplied / Richard Parsonson
Sky TV's full year net profit is down 58 percent, in what it describes as another challenging year.
Still, the pay TV operator delivered on its guidance to pay a dividend of not less than 21 cents per share.
Key numbers for the 12 months ended June compared with a year ago:
- Net profit $20.6m vs $49.2m
- Revenue $750.7m vs $766.7m
- Underlying profit $120.6m vs $153m
- Underlying margin 19.7% vs 20%
- FY dividend 22 cents per share vs 19cps
Chief executive Sophie Moloney said the results reflected a number of challenges, with the economic downturn putting pressure on consumer discretionary spending, as well costs associated with a difficult satellite migration.
Despite the challenges she said the company had delivered on several important projects and milestones during FY25.
"These include securing key content rights, increasing our advertising market share and introducing new features like digital ad insertion for Sky Sport Now, increasing the
penetration of our new Sky Experience to 37 percent of our Box base, and of course the significant diligence work that led to the acquisition of Discovery NZ," she said.
"In breaking news, this morning's signing of a new five-year partnership with New Zealand Rugby, on behalf of the SANZAAR unions, is also a major achievement."
She said key revenue lines continued to increase, with Sky Sport Now up 16 percent, broadband up 34 percent and advertising up 7 percent on the year.
"However, this was not sufficient to offset a Sky Box revenue reduction of 5.8 percent and modest decline of 2 percent for Neon," Moloney said.
She said company expected to make revenue of between $745 million to $770m for the current year ending in 2026, with an underlying profit in a range of $142m-$162m.
It also expected to pay a full year dividend of at least 30 cents per share.
