Sky continue to increase customer base

BSkyB have announced a rise in customer numbers and an increase in profits.

In the 9 months to the end of March, Sky added 78,000 new customers taking its overall customer number to  10.55 million. Those just taking Sky’s TV service was at 15,000, as growth in internet and telephone services continue to grow. Net broadband, telephony and line rental products totalled to 702,000.
The satellite broadcaster posted an operating profit of £908 million, up 15% with total revenue up 5% to £5.1 billion. The company has had a tough year following the collapse of the News Corporation takeover bid and Ofcom tests seeing if they are ‘fit and proper’ to hold a broadcast licence.
Sky will be launching NOW TV later this year which is aimed at those who do not subscribe to pay television in the UK. NOW TV will provide instant access to some of our most popular content with no dish and no contract required, and will be available on a wide range of devices. It will initially offer movies, but will expand to sport and entertainment programmes.

“We have made a good start to 2012.  In what remains a tough economic environment, strong and consistent execution of our plan has delivered good growth across our product range. We have grown revenues by 5% while holding prices flat for customers and delivered a record  nine-month operating profit of £908 million alongside 24% growth in earnings per share.” – Jeremy Darroch, Chief Executive

In the press release of financial data today, Sky included a piece regarding Ofcom insisting that they are a fit and proper licence holder.

“The company is engaging with Ofcom in this process and continues to believe that it remains a fit and proper licence holder, as demonstrated by its positive contribution to UK audiences, employment and the broader economy, as well as its strong record of regulatory compliance and high standards of governance.”

[Written by Shaun Linden]