Satellite operator posts final results with revenue up and subscribers approaching 9 million

Sky+ HD was taken by 33,000 new customers in the UK over the last three months, pushing the premium high-definition PVR to a total customer base of nearly 500,000.

Nearly 9m people now subscribe to Sky after the company added more customers than expected over the last three months.
Publishing results for its full financial year, Sky said it had 8.98m subscribers in total with net customer additions over the last three months coming in ahead of analyst expectations at 92,000.

Revenue for the full year stood at £4.95m, up 9 per cent on the year before, receiving a boost from an 11 per cent uptick in retail subscription revenue to £3.77m.

Its adjusted operating profit was £752m, down 2 per cent from the year before and attributed to continuing investment in its broadband operations.

Jeremy Darroch, Sky CEO, said growth was still strong despite a more difficult consumer environment.
“More customers are choosing Sky for a broader range of products and are staying with us for longer,” he said.

The HD figure reflects take-up prior to Sky’s reduction in the Sky+ HD price from £249 to £150 effective from July 1.
Sky noted that quarterly annualised churn has been brought down to 9.8 per cent, its lowest level since 2005.

Average revenue per customer reached a new high of £427 on the back of continued strong take-up of its premium upsell products such as Sky+ and Sky+ HD.

Revenue had also been improved with its push into bundle selling, with 11 per cent of its customer base now taking its “triple play” package of TV, broadband and fixed-line telephony.

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