21st Oct 2015 06:18
LONDON (Alliance News) - Broadcaster Sky PLC said it has made a "strong start" to its current financial year, as it reported a 10% rise in operating profit for its first quarter.
For the quarter to end-September, Sky reported an operating profit of GBP375 million, up from GBP347 million a year before, on revenue of GBP2.79 billion, up from GBP2.74 billion.
This included 7% revenue growth in the UK and Ireland, and an 11% rise in Germany and Austria, which offset a 4% decline in Italy.
Sky added 134,000 new customers during the quarter, and 937,000 new paid-for subscription products, with 133,000 new broadband subscribers in the UK.
The first quarter results came in ahead of consensus analyst forecasts provided by the company. Consensus showed that analysts expected Sky to report earnings before interest and tax of GBP366 million for the quarter, on revenue of GBP2.78 billion.
"As these results show, we are delivering against a clear set of plans across Europe, and are well positioned for the growth opportunities ahead," said Chief Executive Officer Jeremy Darroch in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Sky