Sky UK Records 7% Revenue Increase

The British Sky Broadcasting Group has seen an increase in revenue of 7%, up to £1,843 million in the third quarter of 2013, according to unaudited figures released by the company.
Sky UK experienced record growth in connected Sky+HD boxes, up 642,000 to 3.4 million, as well as 111,000 net new broad broadband customers (9% year on year) over the three months to September 30.
There was also a fourfold increase in On Demand usage and 219,000 net additions to Sky Go Extra; its tablet/smartphone dowload service.
However, adjusted operating profit was down 8% to £285 million over the period and adjusted basic earnings per share fell 3% to 13.0p.
Jeremy Darroch, Chief Executive, commented: "We have made a very good start to the year. Strong growth across the board drove a 7% increase in revenues and we added 50% more new subscription products than last year as customers continued to respond to the quality and value we offer. Adjusted operating profit was in line with our expectations as we invest in new services and absorb higher Premier League costs.
"We were particularly pleased with the continued strong performance in home communications. Quarterly growth in broadband was up on last year taking us past the 5-million customer milestone. In all, 36% of customers now choose to take all three of TV, broadband and telephony from Sky, over half a million more than last year.
"On screen, we enjoyed a fantastic summer of sport with the excitement of the Ashes and the Lions tour followed by our best ever start to the football season. Total viewing to our Sky Sports channels is up almost 15% on last year, including growth of over 40% in viewing through our mobile TV service Sky Go.
"We are making excellent progress against the plan we set out in July to accelerate growth and returns from new services. The number of connected Sky+HD boxes grew by almost 50,000 a week, faster than in any previous quarter, and we are seeing an immediate increase in usage as customers get connected. Weekly downloads through our On Demand service grew fourfold in the quarter while the number of movie rentals through Sky Store doubled on last year.
"While the consumer environment remains challenging, we are well placed as we execute a strong set of plans for the rest of the year."
www.sky.com
(IT/MH)