LONDON (Alliance News) - Sky PLC Thursday said operating profit rose 12% in the first nine months of its financial year, as revenue growth was driven by strong customer additions during the third quarter.
The pay-television provider said operating profit rose to GBP1.14 billion in the nine months to end-March, compared to GBP1.02 billion a year before, as revenue rose to GBP8.72 billion from GBP8.32 billion. This included a strong performance in the UK and Ireland and in Germany and Austria, which helped offset a small decline in Italy.
Total costs were up 4% in the nine months, including a 5% rise in programming costs as Sky continued to invest in its content portfolio, it said.
Sky added 177,000 new customers in the third quarter, taking its total retail customers to 21.7 million.
"It's been another strong quarter for Sky. Our strategy to broaden our business, expanding into new markets and customer segments, has delivered further excellent financial results with revenue up 5% and a double-digit growth in profit," said Chief Executive Jeremy Darroch in a statement.
"Our promise of world-class content, commitment to innovation, and brilliant service is persuading more customers to join and stay with Sky, in every market. As we pass the major milestone of 40 million products in UK and Irish households, we will continue to execute this successful approach across the group," Darroch added.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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