"TVNZ has completed a remarkable financial turnaround over the past 12 months, announcing a $25.7 million net profit after tax ($10.7m adjusted) today, and a dividend to taxpayers for the first time in three years."
"The turnaround - from an $85m net loss after tax in the previous 12 months"
TVNZ recorded a $25.7 million net profit after tax for the 12-month period, with an adjusted net profit of $10.7 million. TVNZ announced a dividend to taxpayers for the first time in three years. The result follows an $85 million net loss after tax in the previous 12 months. The financial position shifted from significant loss to positive net earnings within a single year. The reported profit enables the company to return funds to the Crown. The adjusted profit figure reflects reported adjustments to the raw net result. The dividend marks a resumption of direct returns to taxpayers.
Read at NZ Herald
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