Wellington, Nov 6 NZPA - Pay television operator Sky Network Television Ltd is forecasting net profit after tax of between $90 million and $100m in 2009, up from the $98m it reported in the year to June 30.

The company told shareholders at the annual meeting that its earnings before interest, tax, depreciation and amortisation in 2009 were expected to be between $265m and $275m, up from $267m. The depreciation charge was expected to be higher at between $90m and $95m from $78m last year.

Chairman Peter Macourt said despite the economic conditions the company had only experienced a slight increase in the number of subscribers who disconnect their service in 2008. The company's "churn" rate rose to 14.9 percent in 2008 from 13.4 percent the preceding year.

He said the company had completed an upgrade of its television station, replacing old tape based technology with a server based high definition multi channel facility and started broadcasting in high definition in July. Work was continuing on upgrading Sky's post production facilities.

He also said the company has 31,000 subscribers to its new MYSKY HDi personal video recorder service.

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