BSkyB’s latest results saw profits grow by 21% year on year, though revenues only grew by 5% based on the same period.
334,000 new customer additions were added in their Q1 (financial year running July – June) with churn now standing at 10.9% – resulting in a net customer growth of 87,000 – which takes their customer base to over 9 million for the first time.
Over 4 million of Sky’s 9.067 million homes also had Sky+, growing by 93,000 in the last three months.
Other products break down as follows:
Sky Broadband: 1.792m (up 10% – in 20% of Sky homes) Multiroom: 1.655m (up 3% – in 18% of Sky homes) Sky Talk: 1.361m (up 10% – in 15% of Sky homes)
The growth in additional services means that ARPU is now £430 per annum, an increase of £19 year on year equating to an extra £1.58 per month per home.
Jeremy Darroch, Sky’s chief executive gave the following comment regarding the positive results:
“This is a good set of results in a challenging environment. We’ve continued to perform well by focusing on quality, value and service. Over nine million customers now enjoy the best in entertainment through Sky and, in tougher times, we’re helping more people to save money on broadband and telephony as well.
“Our financial performance is strong, with a 21% increase in operating profit. Looking ahead, the consumer environment will remain challenging and we are well positioned to manage the business accordingly. Our products are better than ever, we are strong financially and we have a great team of people.”
The Stock Market is more guarded, with current trading (1pm on 31.10.08) up just 0.79% valuing the company at £6.626m.
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