February 21, 2017 / 8:26 PM / 6 months ago

NZ's Sky TV posts 31.9 pct drop in half-year profit

WELLINGTON, Feb 22 (Reuters) - New Zealand's Sky Network Television on Wednesday announced half-year net profits fell 31.9 percent to NZ$59.4 million ($42.5 million) as competition increased.

The pay television provider confirmed its December guidance that earnings before interest, tax, depreciation and amortization would be 5 to 7 percent below the NZ$296 million forecast for full-year 2017.

The company announced an interim dividend of NZ$0.15, in line with its previous half-year dividend. ($1 = 1.3966 New Zealand dollars) (Reporting by Charlotte Greenfield; Editing by Ruth Pitchford)

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