Kiwi’s TVNZ on the rise

Pubcaster's profits up 50%

AUCKLAND — Increased ratings have resulted in increased profits for Kiwi pubcaster TVNZ.

Net profit after tax, at $23.7 million, was up from the previous year’s result of $15.8 million and represented a net profit after-tax return on revenue of more than 10%. The web’s dividend to the New Zealand government was $16.6 million and, although the company found the advertising market still relatively flat, its two channels increased audience share to just over 70%.

Chairwoman Roseanne Meo said the result was a “clear indication of improving inhouse efficiencies.” She added that it left the company in an excellent position to take full advantage of any improvement in the economy and the advertising market.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading