Sky Television has more than trebled its net profit to just under $40m for the six months to the end of December, in line with an earnings upgrade it posted in February. Its net profit during the period, which was affected in multiple ways by the Covid crisis, was up from the thin $12m profit it reported last year for the same period in 2019. Sky’s operating profit climbed 30 per cent to $116m but its revenues continue to slide, this time falling 7 per cent to $360m. Supplied Sky TV will begin selling broadband to “targeted” customers soon, says Sky TV chief executive Sophie Moloney. But satellite television revenues fell at the faster rate of 9 per cent, reflecting a drop in average bills.

Source: Stuff February 22, 2021 19:41 UTC