Television New Zealand (TVNZ) is repaying nearly $5 million it received from the Government in Covid wage subsidies.
The announcement came in its half-year results released today.
TVNZ said it doubled its profit to just under $34 million in the six months to the end of December through cost savings in the Covid pandemic.
Total revenue was down marginally to $175 million.
- Warehouse Group to repay $68 million wage subsidy
- Questions raised about wage subsidy eligibility after more than 10,000 audits
- More than $11 million in wage subsidies repaid by Briscoe Group
- Employers pocketing wage subsidy should 'look in the mirror'
However, TVNZ said its operational expenses were down largely due to spending less on content as supply dried up during the Covid pandemic and it kept costs down across the business.
It said it also gained audiences while people were locked down or were seeking news updates.
