Sky reports 7pc rise in operating profit


In the UK and Ireland, Sky grew underlying earnings by 11pc to £2bn (Stock picture)
In the UK and Ireland, Sky grew underlying earnings by 11pc to £2bn (Stock picture)

Pay TV giant Sky has reported a 7pc rise in operating profit to £1.03bn (€1.16bn) for the year to June 30.

The group reported pre-tax profits of £864m, up from £803m the year before on like-for-like revenues 5pc higher at £13.6bn.

It said it saw customer growth of 39pc in the final three months, taking its total reach to more than 23 million households across Europe.

In the UK and Ireland, Sky grew underlying earnings by 11pc to £2bn, with revenues 4pc higher at £8.9bn.

Advertising revenues in the UK rose 6pc while its rate of “churn” – customer quitting – fell to 10.3pc after it invested in content.

Jeremy Darroch, group chief executive of Sky, said: “It’s been an exceptional year.”

He added: “We are proud that Sky is recognised globally as an outstanding business and are confident we have the right assets and capabilities to continue creating long-term growth opportunities and to capitalise on the strong position we’ve built.”

Press Association

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