BSkyB Announces Operating Profits up 24pc to USD1.3bn
April 28, 2011
Leading UK Pay-TV broadcaster BSkyB has announced its operating profits were up 24 per cent to
£790m (US$1.314bn) for the last nine months, ending March 31.
BSkyB has recorded a revenue growth up 14 per cent to £4.8bn ($8bn) with over 10.1m subscribers to the satellite broadcaster best known for its sport, entertainment and drama output but also owns Sky News.
The company said 26 per cent of its customers now took all three of its TV, broadband and telephone services.
Chief executive Jeremy Darroch said: “Our approach in the current environment will be to stay flexible on costs while delivering for customers.
“We remain cautious on the economic outlook for calendar 2011.”
Last June, Rupert Murdoch‘s News Corp offered to buy the 60 per cent of BSkyB shares it does not already own at the price of 700 pence a share.
The BSkyB board said it was holding out for 800p before it would agree on a deal.
Since then, the share price in the satellite broadcaster has risen by more than 40 per cent.