Monday 26 September 2016

Sky posts 20pc jump in profit on broad demand

Published 21/04/2015 | 07:29

Sky Sports enjoys nothing more than getting stuck into a contentious penalty decision, such as this one for Harry Kane against West Ham at the weekend
Sky Sports enjoys nothing more than getting stuck into a contentious penalty decision, such as this one for Harry Kane against West Ham at the weekend

Solid demand for pay-TV in key markets helped Sky to post an as expected 20 percent jump in nine-month profit on Tuesday.

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Sky, which formed from the combination of Britain's BSkyB, Sky Deutschland and Sky Italia to serve 20 million customers in Europe, said the group had enjoyed record growth in Germany and Austria, and its best third-quarterly performance in Italy for three years.

Sky posted nine-month operating profit of £1.03bn, in line with a company-supplied consensus.

"As these results demonstrate, our teams are working well together right across the new Sky," Chief Executive Jeremy Darroch said.

"Five months in, our integration plans are progressing well and we are well positioned for the expanded growth opportunity ahead."

Having grown to dominate its home market over a period of 25 years, BSkyB last year embarked on a plan to enter Germany, Austria and Italy by buying Rupert Murdoch's assets in those markets, countries where pay TV was not yet as popular, or profitable.

Reuters

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