Good Growth Expected In Sky’s Q1 Results

The broadcaster had 6.1 million subs as at June this year (see BSkyB Results Beat Expectations With 6.1m Customers Now Signed) and the 205,000 growth would be an effective net addition, adjusted for the switch-off of the analogue signal in summer 2001. If the broker’s forecasts are correct, it would represent a 14.7% year on year growth in subscribers over Sky’s Q1 2001 figure (after adjusting for the analogue switch-off); a 9.5% growth is predicted for the full fiscal year.

Revenues Sky’s Q1 revenues are forecast to grow by 12% to £722 million. Advertising revenues are predicted to grow by 3.0% in the full year 2003, up from a 7.3% decline in Sky’s 2002 fiscal year; growth is then forecast to be 7.0% in 2004 and 8.0% in 2005.

Interactive revenues, which account for around 4% of Sky’s total, should rise by 33.4% to £122 million in 2003; by 2005, interactive will comprise 5.4% of total revenues, says the Lehman report.

Sky is expected to make no profit in the first quarter of its financial year. The results will be released on Friday 8 November.