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23 February 2021 Sky delivers strong first half result ; Sky Box customer base stabilising ; firm focus on execution of key initiatives sky Sky New Zealand PO Box 9059 Newmarket Auckland 1149 New Zealand 10 Panorama Road Mt Wellington Auckland 1060 New Zealand T. +64 9 579 9999 sky.co.nz Sky Network Television Limited delivered a strong first half performance for the six months ended 31 December 2020 , as announced at the earnings upgrade on 3 February 2021 and continuing the positive momentum of the business . " We are encouraged with the solid results achieved in the first half . Sky has a unique role to play as the content aggregator which can deliver to all of New Zealand , and Sophie Moloney and her team have a clear focus to maintain performance in the coming months and years , " said Philip Bowman , Sky Chairman . Key results 1 • • • Revenue of $ 356.9m ( from $ 384.8m ) including strong growth in streaming revenue and gradual recovery in commercial and advertising EBITDA of $ 116.3m , up 30 % ( from $ 89.7m ) Net profit after tax of $ 39.6m , up 234 % ( from $ 11.9m ) • 18 % reduction in operating expenses to $ 242.8m ( from $ 295.1m ) , with permanent savings of $ 18m representing 42 % of the underlying movement • Strong positive indicators of reaching a stable Sky Box ( satellite ) customer base , including strengthened acquisitions and continued reduction in churn • Confirmation of OSB sale to NEP post - balance date in line with the move to a lower capital base Sky ended the reporting period with 926,530 total customer relationships . It made significant progress towards stabilising the Sky Box subscriber base , including a net increase in direct customers , while also continuing to grow streaming . While revenue was lower year on year , some of the difference was due to the impact of COVID - 19 which was balanced by negotiated reductions in programming costs and lower production spending . Permanent cost savings from a range of initiatives also contributed to a strong EBITDA result and a pleasing increase in net profit after tax . Customers Total Sky Box customer numbers are continuing to stabilise , with the 1.8 % reduction in the six months to 31 December 2020 being a significant improvement from the 3.2 % reduction in the same period in 2019 . 1 Comparisons to past results in this announcement are to the six months to 31 December 2019 unless otherwise stated .