Thursday, April 13, 2006

TVNZ HY Results down on last year

Auckland -- On March 30, Television New Zealand reported its Interim (Half Year) earnings to December 2005 that showed a net surplus after tax of NZ$23.3 million compared to NZ$30.7 million in the same period the year before.

TVNZ Chairman, Craig Boyce, described the result as satisfactory in the context of a slowing economic environment. He also cited a reduction in revenue resulting from the closure of TVNZ's satellite services business and a decline in advertising revenue.

Programming highlights for the half year included TV ONE's extensive election coverage, the extraordinary ratings and audience share achieved for Desperate Housewives on TV2, and Frontier of Dreams - the first comprehensive television history of New Zealand.

During the period TVNZ broadcast all but two of the top 50 programmes watched by New Zealanders of all ages.

Continuing the pattern established last year, the Interim Report also includes a reconciliation of Charter funding for all programmes broadcast during the six month period.

The Full Interim Report can be downloaded at: http:// corporate.tvnz.co.nz

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