Sky plc reports 18 percent jump in yearly earnings

UK-based Sky plc reported an 18 percent jump in earnings for the year to 30 June, posting operating profits of £1.4 billion on revenues up 5% to £11.3 billion.

The pay TV giant performed particularly well in the UK and Ireland, with revenues up 6 percent to £7.82 billion for the year in the region, while operating profit climbed up 12 percent to £1.35 billion.

Revenues in Germany and Austria were strong too, up 9 percent, however, they dropped slightly in Italy.

Its total customer base surged to just over 21 million. According to Sky, for the twelve months ended 30 June it gained 973,000 new customers (45% higher than the year before).

Financial Results 2014/15

Sky plc financial results

Source: Sky plc

The company brought in 506,000 new customers in the UK and Ireland and hailed its “outstanding” performance in the region – where it now boasts 12 million customers.

“Across the portfolio, we’ve secured a series of big rights deals and made exciting progress in our push into original content”, said Jeremy Darroch, Sky’s group chief executive.

Darroch added:

“It’s clear that the steps we have taken to broaden out our business are paying off. By distributing our content over multiple platforms and launching new products and services, we are now able to offer something for every household”.

He concluded:

“Looking ahead, we see an expanded opportunity for growth by serving the market broadly with multiple products and services. The investments we have made have given us a strong platform on which to build and we have a clear set of plans to deliver long-term growth and returns for our shareholders.”