Profits Up at British Sky Broadcasting Group
LONDON -- In its results for the nine months ended March 31, 2013, published this morning, British Sky Broadcasting Group reported adjusted operating profit up 9%, at 994 million pounds on the back of revenue that was up 6%, at 5,381 million pounds. Adjusted basic earnings per share grew 16%, to 43.7 pence.
The company also reported subscription product growth of 715,000 in the third quarter, in spite of continued difficult economic conditions. And with its 10.8 million retail customers taking an average of 2.8 paid-for subscription products each -- and paying an average of 576 pounds per year to do so, up 30 pounds on the previous year -- BkyB's total paid-for subscription product base has now exceeded 30 million for the first time.
Commenting on the results, Jeremy Darroch, BSkyB's chief executive, said:
These results highlight the way that our successful transition to more broadly based growth has created a bigger, more profitable business. And having more ways to grow serves us particularly well at a time when household budgets look likely to remain stretched. We will continue to focus on overall product sales as the best means of delivering sustainable growth and returns for shareholders.
Despite a recent slip of 6% from a five-year high reached in mid-March, BSKyB's share price has risen by over 20% in the past year, on top of which the company pays a respectable dividend -- around 3.3% this year, forecast to rise to 3.6% in 2014.
But if you already own BSkyB shares and are looking for other great opportunities, our exclusive wealth report reviews five particularly attractive possibilities.
Download your report now -- it's free!
The article Profits Up at British Sky Broadcasting Group originally appeared on Fool.com.Jon Wallis has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.