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BSkyB revenue grows by 10 per cent to £2.9 billion

Indiantelevision.com Team

(2 February 2010 2:50 pm)

MUMBAI: UK pay TV operator BSkyB has posted a revenue of £2.9 billion for the first six months ended December 2009, up 10 per cent from the earlier year.

Net profit surged to £256 million compared to £166 million in the same part of the previous fiscal.

BSkyB also absorbed the cost of strong demand to deliver four per cent growth in operating profit to £401 million. It made strong financial progress in broadband and telephony and its free cash flow was up five per cent to £290 million.

In the second quarter, BSkyB had 172,000 net additions taking the total customer base to 9.7 million. Now 18 per cent of customers take TV, broadband and telephony.

Says BSkyB CEO Jeremy Darroch, “It has been another good quarter in what remains a tough environment, with more customers joining Sky and strong demand across our entire product range. The standout performance came in high definition TV with almost half a million customers
choosing Sky+HD for our best home entertainment service.”

While the economic outlook remains uncertain, BSkyB expects to be in a “good position” in 2010 as it continues to focus on a consistent set of priorities. In addition to customer growth and take-up of additional products, it will seek to extend and build on leadership position in high definition and seek to grow its share in home communications.

“The company will continue to invest sensibly where it sees long-term advantage and stay disciplined on costs,” says Darroch.