BSkyB figures chart impressive growth
UK: BSkyB has released its figures for the recent quarter, which it’s subtitling with some justification ‘strong demand in a challenging consumer environment’. Confirming an extension to its deal for screening Champions League coverage in the UK (see above), other highlights include a total of 10.1 million customers with 51,000 net additions in the quarter, total HD customers 47% higher than the prior year at 3.7 million, and strong revenue growth, up 14% to £4.8 billion over the last nine months leading to an operating profit of £790 million – a 24% rise year-on-year.
Jeremy Darroch, Chief Executive, commented: “The business has delivered another good performance in what has clearly been a tough consumer environment and we are benefiting from the transition to more broadly based growth. Good progress on multiple fronts is translating into strong financial results with double digit growth in revenue, profit and cash flow.
“At a time of significant pressure on household budgets, we have added over 800,000 subscription products as more customers choose Sky for a greater variety of services. Take-up of high definition remains very strong and we have had another excellent quarter in home communications, with 26% of customers saving money by taking all three of TV, broadband and home phone.
“The strength of our financial performance has been equally broadly based, with good revenue growth across retail, wholesale and advertising. Strong cost control and continued margin expansion has delivered 24% growth in operating profit and free cash flow is up 60%.