18% rise in Sky profits as customer numbers surge

Sky has posted an 18% rise in profits, and seen the best customer growth in 11 years.

The broadcaster made £1.4bn in the year to the end of June, and saw its strongest growth in customer numbers for 11 years.

The group hailed an “outstanding” performance in the UK and Ireland, where it now has more than 12 million customers.

Sky, which serves more than 20 million customers group-wide following the acquisition of businesses in Italy and Germany, posted operating profits of £1.4bn for the year to June 30 on revenues up 5% to £11.3bn.

As well as seeing it best UK and Ireland customer growth for more than a decade, Sky said it saw the group’s highest ever increase in customers across Germany and Austria.

The group added 506,000 customers in the UK and Ireland after attracting another 124,000 in the final quarter alone, which is a 65% rise year-on-year.

Chief executive Jeremy Darroch said the revenue growth as well as a “relentless focus on costs” helped drive the annual profits hike.

He added the group was off to a “strong start” following its deal last November to buy Sky Italia and a majority interest in Sky Deutschland, which saw it change its name from BSkyB to Sky.

Mr Darroch said: “The past 12 months have been an outstanding period of growth for Sky.

“We’ve successfully completed a deal that has transformed the size and scale of opportunity for the business whilst delivering an excellent financial and operational performance.”