Source: Radio New Zealand
RNZ / Dan Cook
Sky TV has made a strong first-half profit and is on track to pay shareholders a full year dividend of at least 30 cents a share.
While it expects trading conditions to remain challenging, Sky TV chief executive Sophie Moloney said earnings growth would continue into the next financial year.
“The first half of FY26 marks an important step forward for Sky,” she said.
- Net profit $52.4m* vs $1.7m loss
- Revenue $415.4m vs $385m
- Underlying profit $78.2m* vs $60.7m
- Operating expenses $346.8m vs 347.9m
- Interim dividend 15 cents per share vs 8.5 cps
*includes purchase of Sky Free
Moloney said Sky’s half-year performance reflected the execution of Sky’s multi-year strategy] and the financial and strategic benefits of the Sky Free purchase of Three owner Discovery NZ for $1.
“The Discovery NZ acquisition was a well-structured deal for Sky,” she said.
“It’s not often you get to acquire an asset for $1 and significantly strengthen the balance sheet at the same time – as is also evidenced by the gain on bargain purchase of $34.4 million we report today, reflecting the fair value of the assets acquired.”
Moloney said the combined business was already demonstrating benefits for Sky.
The company expected to report a full year underlying profit in a range of $145m and $160m, with revenue in a range of $820m and $835m and a dividend of at least 30 cps.
“Although the economic environment remains uncertain, earnings growth is expected to continue from FY27, and we remain confident in our ability to deliver at least $10m of incremental EBITDA (underlying profit) by FY28 through delivery of synergies across the group.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
