Sky Beats Full Year Forecasts
Sky has revealed it expects to perform strongly in its new financial year after posting better than expected profits for 2014-15, with group revenues increasing by 5% to £11.283bn for the 12 months ending 30th June 2015.
The increase translates to an 18% increase in operating profit to £1.4bn.
The UK and Ireland business delivered revenues up 6% to £7.82bn and operating profit up 12% to £1.35bn.
Customer growth of 506,000 was also the highest annual organic customer growth in 11 years, according to the pay-television group, and took Sky’s base past 12 million.
In November, UK pay-television broadcaster BSkyB announced it would be renamed Sky after completing a takeover of Sky Italia and acquiring a majority stake in Sky Deutschland. The deal brought together leading sports broadcasters in three of Europe’s four largest pay-television markets.
This year Sky’s base in Germany and Austria achieved a 9% increase in revenues to £1.377bn, to record a loss of £11m, versus the 2014 loss of £57m.
Sky Italia delivered revenues of £2.086bn and a 56% improvement in operating profit to £61m, while the broadcaster’s customer base remained stable at 4.7m after three years of decline.
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