Australia’s free-to-air commercial television operators posted record profit increases for the 1993-94 financial year on the back of boosted revenues and reduced expenditure, according to a July 12 report by the Australian Broadcasting Authority.

TV industry profits after tax and interest increased threefold to $A342.7 million ($246.7 million), the largest levels ever reported by the ABA, over the 1992-93 financial year, while profits before interest and tax rose to $A427 million ($307.4 million) from $A266.6 million ($192 million).

One factor behind the good news was a 9.2% fall in expenditure on Australian programs to $338.3 million. Total expenditure fell 6.2% to $1.2 billion and interest expenses decreased by 45.3% to $60.7 million, while revenues were up 5.5% to $1.5 billion.

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