Financial News

  • 1 May 2014, 14:22

BSkyB Shares Rise On Customer Growth Figures

Shares in BSkyB, the owner of Sky News, rose more than 4% when the FTSE 100 opened for business on Thursday after its latest results statement.

The home entertainment and communications company reported a 7% increase in revenues over the first nine months of its financial year to £5.7bn.

Operating profit for the period fell by 8.5% to £910m.

BSkyB, which provides pay TV, broadband and telephony services, said the total number of paid-for products topped 34 million during its third quarter.

TV customers increased by 74,000 - more than double the growth in the same quarter last year.

The number of households taking broadband rose by 70,000 over the three months.

Chief executive Jeremy Darroch said: "We have had a strong third quarter and continued to grow at an accelerated rate as customers respond to the quality and breadth of our offering.

"We're now more than three quarters of the way through our plan for the year and are on track to deliver returns in line with our expectations."

Commenting on the changing nature of viewing habits, the company reported strong growth in use of its On Demand service.

It said it now accounted for more than 5% of viewing in connected Sky homes - with a "surge in demand" for its expanded box sets offering accounting for much of the increase.

Game of Thrones Series 1-3 was its most downloaded box set ever in March.

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