BSkyB reports high-def boost

BSkyB today said operating profits rose 10% after it added 90,000 more customers during the final three months of its financial year.

The broadcaster’s customer base stood at 9.86 million at the end of June, with 30% of subscribers now taking Sky’s high definition services.

Chief executive Jeremy Darroch said SkyHD boasted twice as many customers as a year ago after 429,000 net additions in the fourth quarter, while one in five customers now have each of TV, broadband and telephony – up 36% on last year.

He added: “We’ve had another good quarter to bring our financial year to a strong close.”

BSkyB reported adjusted operating profits of £855m (€1bn), up 10% a year earlier, while bottom-line pre-tax profits rose to £1.17bn (€1.4bn) due to the disposal of shares in ITV, after a write-down on the holding a year ago.

The company recently rebuffed a 700p-a-share approach from Rupert Murdoch’s News Corporation for the 61% of BSkyB that NewsCorp does not currently own, a move valuing the FTSE 100 Index company at around £12bn (€14.4bn).

BSkyB called for an offer in excess of 800p a share, although it agreed to begin work on the regulatory process required for a tie-up.