BSkyB reports record results
Pay-TV group BSkyB posted record nine-month operating profit as an increasing number of subscribers turned to the group for broadband and phone services.
Showing little effect from the fallout of a failed bid by Rupert Murdoch’s News Corp to seize full control of the group, BSkyB posted revenues up 5 percent to £5.1bn and earnings per share up 24 per cent.
The strong financials were driven by solid demand for services such as broadband and telephony, which made up for the fact that the group has started to add fewer new customers to its main television service.
The group added 15,000 new customers to the TV service, broadly in line with expectations, but well below the 51,000 it added in the quarter last year.
“We have made a good start to 2012,” chief executive Jeremy Darroch said. “In what remains a tough economic environment, strong and consistent execution of our plan has delivered good growth across our product range.”
BSkyB has added fewer net new customers to its service in recent quarters, but instead focussed on good cost control and selling more products to existing customers to boost its financial performance.