Strong customer and product growth; operating profit up by 21%1

Sky now in over 9 million homes

Net customer growth of 87,000, up 5% year on year, to 9.067 million
  • New customer additions of 334,000, up 2% year on year
  • Churn of 10.9%, 0.4 percentage point improvement year on year
  • ARPU increases to £430, up £19 year on year

Strong growth in additional products
  • Sky+ homes now over 4 million, with net additions of 421,000
  • Record Sky+ HD growth of 93,000 to 591,000
  • Multiroom households increase by 51,000 to 1.655 million
  • Sky Broadband growth of 164,000, to 1.792 million, 20% of Sky homes
  • Sky Talk growth of 120,000 to 1.361 million, 15% of Sky homes

Operating profit increases by 21%1
  • Revenue increases by 5% on the comparable period2 to £1,249 million
  • 8% growth in retail subscription revenue
  • Operating profit up by 21% to £182 million1
  • Reported operating profit of £179 million up by 25%
  • Adjusted earnings per share of 6.1 pence3 up by 22%
  • Basic earnings per share of 4.2 pence
  • Net exceptional items of £33 million

Jeremy Darroch, Chief Executive, said:

'This is a good set of results in a challenging environment. We've continued to perform well by focusing on quality, value and service. Over nine million customers now enjoy the best in entertainment through Sky and, in tougher times, we're helping more people to save money on broadband and telephony as well.

'Our financial performance is strong, with a 21% increase in operating profit. Looking ahead, the consumer environment will remain challenging and we are well positioned to manage the business accordingly. Our products are better than ever, we are strong financially and we have a great team of people.'

1 Excludes exceptional operating cost of £3 million (2008: £7 million)
2 For the three months ended 30 September 2007
3 Adjusted EPS stated before exceptional operating charges of £3 million, an impairment of £24 million relating to the Groupís investment in ITV, £1 million loss relating to mark-to-market in derivative financial instruments that do not qualify for hedge accounting, an adjustment of £6 million relating to a deferred tax write-off following a change in law in the period in respect of industrial building allowances, and related tax effects

BSkyB Corporate | MediaPress Release(printable version)