Saturday 21 October 2017

Sky boost on strong pay TV demand in UK, Germany and Ireland

The broadcaster has bolstered its pay-TV empire with the £5.3 billion takeover of sister companies in Italy and Germany
The broadcaster has bolstered its pay-TV empire with the £5.3 billion takeover of sister companies in Italy and Germany

Strong demand for pay TV in Ireland and Britain and a record jump in customer numbers in Germany helped Sky to post a 16pc rise in first-half adjusted operating profit in its maiden results as a European pay-TV group on Wednesday.

The company said today therer was growing customer demand across the group and significant outperformance in the UK and Ireland.

Sky added on 204,000 new customers, the highest growth in nine years as it launched over 1 million new products.

Sky, which was formed from the combination of Britain's BSkyB, Sky Deutschland and Sky Italia to serve 20 million customers in Europe, said it had also seen a significant decline in the number of people leaving their platforms.

Overall the group posted first half adjusted operating profit up 16pc to £675m, well ahead of forecasts of €644m in a consensus provided by the company.

Online Editors

Also in Business