Monday 24 October 2016

Sky meets forecasts with 5pc first-quarter revenue rise

Published 13/10/2016 | 09:26

HBO's Westworld
HBO's Westworld

European pay-TV group Sky reported a 5pc rise in underlying revenue in its first quarter, in line with its expectations in a year when it is paying higher costs for the premium soccer and entertainment content it offer viewers.

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The broadcaster, which had its most successful drama series debut earlier this month with sci-fi series "Westworld" and started Friday night Premier league football this season, reported group revenue up 7 percent to 3.1 billion pounds, with like-for-like revenue up 5 percent, in line with its forecasts.

Sky has predicted growth for the full year of 5-7 percent, and cost savings to substantially absorb the impact on profits from a 600 million pounds one-off rise in the cost of Premier League rights.

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