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Sky: Good growth in tough conditions
07.28 Europe/London, October 19, 2011 By Julian Clover
BSkyB added 77,000 new customers on the quarter, but just 26,000 related to the company’s TV services, the remainder being drawn from standalone home communications customers.
Revenues grew by 9% to £1.66 billion in what chief executive Jeremy Darroch described as tough market conditions: “We continue to deliver strong financial results and good growth in customers and products. New customers are choosing Sky over other providers, existing customers are taking more from us and our financial performance is accelerating, with another quarter of double-digit growth in operating profit, EPS and free cash flow,” he said. “Looking ahead, the environment is likely to remain challenging as a result of the pressures facing consumers in the UK and Ireland.” Adjusted operating profit up 16% to £295 million.
BSkyB said there had been an excellent response to the multiscreen service Sky Go with 1.6 million customers signing up since launch three months ago. Additional content was planned for the coming months and versions for Android devices were also to be introduced.
In the quarter to September 30, 2011 customers took an additional 683,000 net products, growing the base by 15% year-on-year. In total BSkyB has 10.4 million customers in the UK and Ireland.
ARPU continued to grow, increasing by £25 to reach £535, representing growth of 5% versus the prior year.
07.28 Europe/London, October 19, 2011 By Julian Clover
BSkyB added 77,000 new customers on the quarter, but just 26,000 related to the company’s TV services, the remainder being drawn from standalone home communications customers.
Revenues grew by 9% to £1.66 billion in what chief executive Jeremy Darroch described as tough market conditions: “We continue to deliver strong financial results and good growth in customers and products. New customers are choosing Sky over other providers, existing customers are taking more from us and our financial performance is accelerating, with another quarter of double-digit growth in operating profit, EPS and free cash flow,” he said. “Looking ahead, the environment is likely to remain challenging as a result of the pressures facing consumers in the UK and Ireland.” Adjusted operating profit up 16% to £295 million.
BSkyB said there had been an excellent response to the multiscreen service Sky Go with 1.6 million customers signing up since launch three months ago. Additional content was planned for the coming months and versions for Android devices were also to be introduced.
In the quarter to September 30, 2011 customers took an additional 683,000 net products, growing the base by 15% year-on-year. In total BSkyB has 10.4 million customers in the UK and Ireland.
ARPU continued to grow, increasing by £25 to reach £535, representing growth of 5% versus the prior year.