Trading Room home page

BSkyB profit rises 10% in first half

Market watch top headlines

Australian reports

World reports

Stocks to watch

ANZ, EGP, HIL, HVN, MQG, NCM,

LONDON, Jan 31 AFP

January 31 2013, 8:56PM

British pay-TV giant BSkyB says net profit rose 10 per cent in the first half of its financial year, as the group bucked tough trading conditions with keen demand for its products.

Profit after tax rose to STG487 million ($A744.19 million) in the six months to December, compared with STG441 million a year earlier, BSkyB said in a results statement on Thursday.

Group revenue meanwhile swelled by five per cent to STG3.53 billion in the reporting period.

The company says it now has 10.742 million paying customers after signing up 88,000 clients in the three months to December.

"We have delivered another good performance in the first half with strong progress across the board," said BSkyB chief executive Jeremy Darroch.

"In what remains a tough consumer environment, our broadly-based growth strategy is working well."

London-listed BSkyB broadcasts the 24-hour Sky News channel, live sport including the English Premier League football and blockbuster movies, and also provides broadband internet and telephone services.

Back in 2011, Rupert Murdoch's News Corporation scrapped a bid to win full control of BSkyB following a phone-hacking scandal which forced it to close British tabloid newspaper News of the World.

News Corp had bid STG7.8 billion for the 60.9 per cent of BSkyB it did not already own. However, BSkyB had rejected the 700-pence-per-share offer even before the bid collapsed.