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Sky sees strong customer growth | Sky sees strong customer growth |
(about 1 hour later) | |
Media giant Sky says it gained more than 200,000 new customers in the UK and Ireland in the second half of 2014. | Media giant Sky says it gained more than 200,000 new customers in the UK and Ireland in the second half of 2014. |
The addition of 204,000 customers was its highest growth in subscribers in nine years, it said. | The addition of 204,000 customers was its highest growth in subscribers in nine years, it said. |
These were Sky's first results since BSkyB, Sky Deutschland and Sky Italia combined in November last year. | These were Sky's first results since BSkyB, Sky Deutschland and Sky Italia combined in November last year. |
The company reported a 16% rise in adjusted operating profits to £675m, which was better than analysts had expected. | The company reported a 16% rise in adjusted operating profits to £675m, which was better than analysts had expected. |
Adjusted revenues - which assume Sky had owned Sky Deutschland and Sky Italia for the full six months to 31 December - rose 5% to £5.6bn. | |
The period saw strong demand for pay-TV across all its markets, Sky said, while it also saw a fall in the number of customers leaving. | The period saw strong demand for pay-TV across all its markets, Sky said, while it also saw a fall in the number of customers leaving. |
"Alongside our continued strength in the UK and Ireland, the acquisition of Sky Italia and Sky Deutschland gives us an expanded opportunity for growth," said chief executive Jeremy Darroch said. | "Alongside our continued strength in the UK and Ireland, the acquisition of Sky Italia and Sky Deutschland gives us an expanded opportunity for growth," said chief executive Jeremy Darroch said. |
"Both businesses had a strong quarter." | "Both businesses had a strong quarter." |
Sky gained 214,000 new customers in Germany and Austria, and 30,000 new customers in Italy. | |
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said Sky had "produced an encouraging set of numbers as it positions itself as a major European force within the media sector". | |
"The net result is that the earnings per share, revenue and operating profit numbers are all comfortably ahead," he said. | |
Sky's move into mobile with Telefonica, which takes Sky into the battle for "quad play" services of mobile, internet, landline and TV, "should maintain its position as a force to be reckoned with", Mr Hunter said. | |
However, Sky faces risks in integrating its European acquisitions, and in getting the majority of rights in the auction for Premier League football TV rights, he added. |
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