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Sky profits up 16%

Sky profits up 16%

Sky’s operating profits were up 16% for the six months ending 31 December 2014, following a significantly strong performance in all five markets.

204,000 new customers were added across the UK and Ireland over the period – the highest growth in nine years – while over 1 million new products were taken up by customers, the highest growth in four years.

Within this, TV growth more than doubled to 202,000, while Sky broadband saw 106,000 additions. Sky Store revenues were also up 90% year on year.

The acquisition of Sky Deutschland and Sky Italia saw the group set international records for the group as well, adding 214,000 new customers in Germany and Austria and 30,000 in Italy, the highest growth in 12 quarters.

“The strength of our performance in the UK and Ireland shows that our approach to segmenting the market with the complementary Sky and NOW TV brands is working,” said group chief executive, Jeremy Darroch.

“Across the board, customers are responding to our investment in more high-quality TV and innovative new services. This has resulted in the highest customer growth in nine years, the highest total product growth in four years and the lowest churn in a decade.”

Sky has also seen promising results from its expanding original drama production, with 160 hours now available across all markets.

“The simultaneous launch of Fortitude, our ambitious new original drama, to 20 million customers across all five markets, shows the potential we now have to operate at greater scale,” said Darroch.

“This is just the first of many opportunities we have to launch new products and services for customers in the months ahead.”

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