BSkyB Enjoys 15% Jump In Operating Profit

BSkyB has announced record operating profit, up by 15% year on year and reaching £660 million for the year to date.

The broadcaster enjoyed net DHT subscriber growth of 40,000 during the quarter reaching 8.1 million, with an 86% rise in Sky+ households and a 76% increase in multiroom households.

Revenue was up by 9% year on year reaching £3,079 million, with growth margin expanded by four percentage points to 61%.

Operating profit increased by 15% to £660 million, while profit for the period rose by 10% to £425 million and basic earnings per share jumped by 16% hitting 23.2 pence.

Commenting on the results, James Murdoch, chief executive of BSkyB, said: “The business is performing well and is delivering on the plan we laid out for 2006. Our focus during the quarter was to successfully implement our new customer management systems, complete the final preparations for the launch of Sky HD, and continue to ready the business for the launch of residential broadband services in the summer.”

He continued: “Operational achievements in the quarter were outstanding. We achieved our goals, continued to grow our customer base and increased the number of products they choose to take from us.”

The strong performance continued from a healthy rise in half year revenues, with record growth in Sky+ and Multiroom households leading to a 16% year on year increase in operating profits for the satellite broadcasting company.

The company added 215,000 net new customers over the Christmas period, up from 168,000 the previous year. Sky+ households increased by 254,000 in the quarter, while Multiroom households rose by 158,000 to 1,281,000.

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