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Sky records highest-ever first half profits

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  • rickbell
    Member
    • Feb 2011
    • 88

    Sky records highest-ever first half profits

    BSkyB has announced the addition of 100,000 new subscribers in the final three months of 2011, amid some concern of a slowdown in the number of new subscribers.

    The per customer cost to acquire a TV subscriber increased £14 (€16.7) to £368, though Sky chief executive Jeremy Darroch said Sky had been no more aggressive on promotion than in previous quarters.

    The satcaster recorded its highest ever first-half adjusted operating profit, up 16% at £601 million. BSkyB announced a 5% increase in dividend in addition to the £750 million buy-back initiated on November 29, 2011.

    “Our approach to growth is working well. We’re adding more value to the Sky subscription by investing where it matters most to customers, with more great entertainment and ground-breaking innovation like Sky Go. Alongside that, we’re improving efficiency behind the scenes so we can expand margins at the same time,” said Sky chief executive Jeremy Darroch. “Financially, we’ve delivered another strong result, with our highest ever first-half operating profit and 20% growth in earnings per share”.

    A total of 10.471 million customers in the UK and Ireland now take Sky services, more than three million customers taking all three of TV, broadband and telephony, up by 26% year on year. In the tough economic environment, churn has held steady at 9.6%.

    Costs have been reduced as a result of a move to an entirely insourced box, 60% of customers now have the Sky+ HD receiver, up from 20% two years ago, and being the simgle largest factor in reducing service visits by some 33%. CFO Andrew Griffith attributed this Despite this there are no immediate plans to switch off standard definition channels.

    BSkyB made £34 million from the sale of set-tops to Sky Italia.

    1,300 new Sky jobs are being created across the UK and Ireland over the next two years, including the opening of a new service centre in Dublin.

    One potential area of concern is that of the pubs and clubs market in the retail trade, where Darroch admitted Sky was facing more challenges than it had in the past. “If you’re a high quality chain then I think you are in pretty good shape, but if you are a single-handed publican you are under a bit of pressure and certainly the more tertiary locations that are off the high street are struggling a bit more.”

    Darroch said Sky had recently reduced prices in pubs that had a larger food element and expressed a hope that the issues around foreign satellite reception would soon be resolved.
  • DirtyDonki
    Senior Member
    • May 2011
    • 133

    #2
    Re: Sky records highest-ever first half profits

    Not at all surprised considering their current pricing. If you want the full works you are now looking to pay in excess of £70 monthly.

    Most of the UK general public is not in a position or willing to pay that especially not when you consider how the same old programs & movies are rotated day in and day out all year long.

    Even the live football has declined with the rise of ESPN & Setanta. So you have to factor a sub to them into the equation also. AND still NO 3PM games & Champoinship coverage is virtually non-existent!!!

    Worthy of note also is that Sky have announced their intention to compete more in line with the likes of N*tflix & L*vefilm in the growing online market which is fine if you have a decent Broadband service which Sky does not quite have at present.

    So we will end up back with BT for Broadband & end up paying even more for the same, repeated lousy service.

    Comment

    • toby69
      Experienced Board Member
      • Oct 2011
      • 4198

      #3
      Re: Sky records highest-ever first half profits

      have never had sly, except from other souces, but now i have tried an tested do not watch to much on there, mainly for sport, cannot understand why people pay so much.
      Do not send me iptv/cline requests,

      technical or iptv/cline server questions in PM!

      I will not answer!

      Comment

      • gpaolobvt
        Senior Member
        • Jan 2012
        • 185

        #4
        Re: Sky records highest-ever first half profits

        It's strange that in time of crisis there are so many subscriptions....
        I'm happy that so many jobs may have been create...

        But somebody is going to think that a sat subscription may be a luxury feature for family.

        Infact an idea is to get the subscripion's name to verify taxes elusion.

        Comment

        • bokkie
          Experienced Board Member
          • Feb 2012
          • 1561

          #5
          Re: Sky records highest-ever first half profits

          This is the reason i'm exploring other optons. Can't afford their prices anymore. £80 a month for telly and broadband. Only watch about 10 tv channels . They should structure their sports channels better as as well.

          Comment

          • Orlik666
            Junior Member
            • May 2011
            • 10

            #6
            Re: Sky records highest-ever first half profits

            Too bad their not on 13e. But one the second thought I could not afford Sky UK. It's even more expensive than premium TV providers in my country

            Comment

            • spectre289
              Newbie
              • Feb 2012
              • 9

              #7
              Re: Sky records highest-ever first half profits

              Sky is such a ripoff, it's no wonder people are having to explore more options.

              Comment

              • toby69
                Experienced Board Member
                • Oct 2011
                • 4198

                #8
                Re: Sky records highest-ever first half profits

                Originally posted by Orlik666
                Too bad their not on 13e. But one the second thought I could not afford Sky UK. It's even more expensive than premium TV providers in my country
                orlik, you can get sly very cheap, do your homework, very good reliable servers on web, plenty if you search.
                Do not send me iptv/cline requests,

                technical or iptv/cline server questions in PM!

                I will not answer!

                Comment

                • bokkie
                  Experienced Board Member
                  • Feb 2012
                  • 1561

                  #9
                  Re: Sky records highest-ever first half profits

                  Mr Murdoch has to pay for those expensive court cases somehow. What better way than raking in more money from Joe Public who want to watch a couple of games of Footy a week and maybe a movie or 2.

                  Comment

                  • toby69
                    Experienced Board Member
                    • Oct 2011
                    • 4198

                    #10
                    Re: Sky records highest-ever first half profits

                    totaly agree, think portsmouth case up soon, april i think, red white an blues drinking den, good luck to that thisty landlady, she got a lotta bottle.
                    Do not send me iptv/cline requests,

                    technical or iptv/cline server questions in PM!

                    I will not answer!

                    Comment

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