SKT Sky Network Television Limited.

[daveoi]

They are making money - the goodwill impairment is inevitable and not representative of current performance - just that the business was acquired at a price that is no longer relevant to the business (in 2005 i might add)

[winner69]

Outlook is better than what was initially flagged. So wouldn't be suprised if the share price goes up...

And they generally under promise?

[Quantitative Easing]

Retail investors will go with the headline of 157m loss. If anything there will be a sell down until ASX opens ......

Also i read that the satelite customers had actually increased in the last month of FY20 "Satellite customer numbers stabilising and achievedgrowth in the final month of FY20."

[SeanL]

Multiple posts on the social sites of the Stuff article headline already, assuming the headline is enough financial analysis for the sharesies horde might not go the way they all wanted....

https://www.stuff.co.nz/business/122...-big-writedown

[Shareguy]

Is a better result than expected. Increased guidance and loss of satellite customers decreasing. Goodwill reduction just reflection of current share price. Looking to accumulate some more if any weakness

[Chuckles]

Agree that the NZ media will focus on the loss, the remainder of the results and outlook looked promising to me or am I missing something.

[mistaTea]

Going to be an interesting day for Sky. The newspapers will definitely focus on the GAAP loss.

Underlying Owner Earnings are over $80M though - much, much more than I was anticipating.

The business is still generating an incredible amount of cash.

Let's see what the team have to say @10am.

[jimdog31]

Does it really matter how the sharesies horde feels about misreading the news headlines? If the price goes down, takeover territory more likely, if the price goes up we make money. Am i wrong?

[Bjauck]

Is a better result than expected. Increased guidance and loss of satellite customers decreasing. Goodwill reduction just reflection of current share price. Looking to accumulate some more if any weakness

Positive sign in the increased streaming income. They must think the market has got the share price right if they adjust goodwill based on that.

[tqtq]

This is how the result is being reported by Dow Jones newswire

DJ Sky Television Forecasts Return to Profit as Streaming Grows

WELLINGTON, New Zealand--Sky Network Television Ltd. expects to return to profit in its current financial year after gaining more streaming customers and slowing the decline in legacy satellite TV subscribers.


The New Zealand company, which has struggled because of competition from streaming giants such as Netflix, on Thursday reported a full-year loss of 156.8 million New Zealand dollars ($103.8 million) due to an impairment charge.


It forecast a profit of NZ$10 million to NZ$20 million in its current financial year ending June 2021.


The company said streaming customers had grown by more than 150% to 404,000 as of June due to its acquisition of the Lightbox and RugbyPass services.


The decline in satellite subscriber revenue slowed to 7.6% from 9.3% in the previous financial year, Sky said.


Write to Stephen Wright at stephen.wright@wsj.com


(END) Dow Jones Newswires