BSkyB report massive profit hike

BSkyB have reported a record operating profit of £438 million – a massive 76% increase on the previous year’s quarterly figures.
Net operating cash inflow increased by 131% to £518 million, while profit after tax increased almost tenfold, from £28 million to £243 million. The network’s total revenue increased by 16% to £2,697 million.
The number of DTH subscribers rose by 66,000 to 7.3 million and the Sky+ target was reached three months early, with customer numbers increasing by 72,000 to 322,000.
Earnings per share before goodwill and exceptional items was 13.2 pence, up 5.9 pence on the comparable period.
James Murdoch, Chief Executive of BskyB, said: “Sky continues to deliver improvement in its financial performance, and remains on track to hit all operational and financial targets. Slower DTH subscriber growth during the quarter reflected our decision to pull back on platform marketing in a seasonally quiet period.”
(GB)