KEY POINTS:
Pay TV operator Sky Network Television says it expects after tax profits for the 2009 year of between $90 million and $100m - largely unchanged from the $98m profit in the year to June 30.
The company told shareholders at its annual meeting today that earnings before interest, tax, depreciation and amortisation in 2009 were expected to be between $265m and $275m, up from $267m. The depreciation charge was expected to be higher at between $90m and $95m from $78m last year.
Chairman Peter Macourt said despite the economic conditions the company had only experienced a "slight increase" in the number of subscribers who disconnect their service in 2008.
The company's "churn" rate has risen 1.5 per cent from 13.4 per cent to 14.9 per cent in 2008.
He said the company had completed an upgrade of its television station, replacing old tape based technology with a server based high definition multi channel facility and started broadcasting in high definition in July. Work was continuing on upgrading Sky's post production facilities.
He also said the company has 31,000 subscribers to its new MYSKY HDi personal video recorder service.
Rival multi-channel operator Freeview this week launched its own HD digital recorder, allowing its viewers the same kind of technology previously reserved for Sky's digital customers.
Currently eight per cent of New Zealand homes are using Freeview, with an additional two per cent using Freeview HD.
- NZPA
