BSkyB revenues rise ahead of BT battle

Suzie Neuwirth

BRITISH Sky Broadcasting (BSkyB) today posted a seven per cent increase in full-year revenues to £7.2bn, as it gears up for a battle with an increasingly aggressive BT.

The satellite broadcaster’s earnings rose eight per cent to £1.7bn and operating profit rose nine per cent to £1.3bn over the period.

With mere weeks to go before BT launches its rival sports offering, BSkyB reported a 3.3 per cent increase in subscription customers to 31.6m.

The firm announced plans for a £500m share buyback and an 18 per cent increase in its full year dividend to 30p per share, as it increases returns for investors.

“The strength of our financial performance is a result of our successful transition to more broadly-based growth and sustained investment to create a better service and wider range of products for customers,” said chief executive Jeremy Darroch.