NZ's Sky Network Television falls on weak FY profit, bleak forecast

Sky Network Television

21/08/2024 01:06

** Shares of Sky Network Television  SKT.NZ  fall as much as
6.3% to NZ$2.680, their biggest fall since Nov 8, 2023
    ** Stock hits lowest level since Aug 13
    ** Media co's FY NPAT falls 3.7% to NZ$49.2 mln ($30.29 mln)
    ** Posts 1.6% rise in FY rev and declares 19 NZ cents per
share dividend
    ** Co cuts FY26 revenue growth target to 1-2% per annum from
earlier target of 3-4%
    ** Co sees FY25 NPAT between NZ$40 mln to NZ$55 mln
    ** Stock up 3.6% YTD as of last close 
   


($1 = 1.6244 New Zealand dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))