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1、ANNUAL REPORT2011SKY networK televiSion limited2Contents002 ContentS003 HigHligHtS005 CHairmanS letter007 CHief exeCutiveS review011 BuSineSS overview017 finanCial overview022 Board of direCtorS024 2011 finanCialS034 noteS to tHe finanCial StatementS075 independent auditorS report076 otHer informati
2、on077 Corporate governanCe Statement080 intereStS regiSter083 CompanY and BondHolder information087 waiverS and information088 SHare marKet and otHer information089 direCtorY090 SKY CHannelS3HIGHLIGHtstotal revenue$797mebitda$322mcapital expenditure$170mnpat$120mtotal subscribers829,421arpu up 4.2%$
3、70.45my sky subscribers279,875churn14.0%4We do not consider ourselves to be either a pay television or a satellite company,but rather a company that creates and aggregates content for consumers to watch,read and listen to in their living room,hotel room or even on a boat.our subscribers may elect to
4、 watch the content on their big screens,computers or on 3G or 4G mobile phones.We deliver to you your happy place,when and where you want.We ARe not JUst A teLeVIsIonCoMPAnY5chairmans letterthis was another year where the economy provided plenty of challenges.however i am pleased to tell you that sk
5、y has performed exceptionally well.in the year to 30 June 2011 sky increased subscriber numbers,held churn at almost the same level as the previous year and continued its strong growth in the number of my sky decoders.total revenue was$797 million,a 7.4%increase compared to last year.this can in par
6、t be attributed to the 3.4%increase in new subscribers.27,024 new subscribers joined SKY,bringing total subscribers to a new high of 829,421.the number of mY SKY subscribers has continued to increase,typically attracting customers who watch more television.the total number of mY SKY subscribers was