Austar United Communications Ltd (ASX:AUN) has posted a 42% drop in net profit to $20.69 million, on revenue of $351.9 million, up 6.3% for the six months to 30 June.
The lower profit was attributed to increases in programming, operating and net financing costs.
CEO John Porter says the company is working through a difficult consumer environment and is continuing to exercise strong cost control.
Austar reports that television subscribers grew to over 747,000 in the first half year of 2010, over an 18,000 increase in subscribers compared with the first half of 2009.
Austar reported a profit of $58.78 million for the year ending 30 December 2009.