Sky Television has finally delivered some good news to its beleaguered shareholders, increasing its profit and revenue guidance for the year to June after a “positive start” to its new financial year. Sky said its net profit was likely to be between $20 million and $30m, rather than between $10m and $20m as it forecast in September. The company is now forecasting annual revenues of between $680m and $710m, up from its previous guidance of $660m to $700m. Sky had revitalised its sales efforts and reinforced Sky’s proposition as a “one stop shop” for entertainment and sports content, it said. Fellow media company NZME increased its guidance on Tuesday, forecasting an operating profit of $63m to $66m in the year to the end of December, up marginally on its August forecast of a $60m to $63m operating profit.

Source: Stuff November 10, 2020 20:26 UTC