Satellite television operator Sky Network (ASX:SKT) has increased its net profit 19.1% to NZ$50.8 million ($39.62 million) in 1H10.
The company stated that analysts’ estimates of its full year profit outlook were within its expected range. The mean number given by analysts is a profit of NZ$88 million.
But it warned it was operating within the most depressed television advertising market ever seen within New Zealand, and that it was gaining subscribers at a relatively low rate.
SKT shares are trading unchanged at $3.65.