Sky profit has increased by 21 percent for the three months ended September 30th. The Company experienced net customer growth of 87,000, up 5 percent year on year, to 9.067 million with new customer additions of 334,000, up 2 percent year on year.

There was a churn of 10.9 percent, 0.4 percentage point improvement year on year, with ARPU increases to 430 pounds, up 19 pounds year on year. Sky also reported strong growth in additional products. For example, Sky+ homes now has more than 4 million subs, with net additions of 421,000, and Sky+ HD witnessed growth of 93,000 to 591,000. Multiroom households increase by 51,000 to 1.655 million and Sky Broadband experienced growth of 164,000, to 1.792 million, 20 percent of Sky homes. Sky Talk itself witnessed growth of 120,000 to 1.351 million, about 15 percent of Sky homes. Financial results reveal...

• Revenue increases by 5 percent on the comparable period 2 to 1,249 million pounds (For the three months ended 30 September 2007)
• 8 percent growth in retail subscription revenue
• Operating profit up by 21% to £182 million (Excludes exceptional operating cost of 3 million pounds (2008: 7 million pounds ))
• Reported operating profit of 179 million pounds, up by 25 percent
• Adjusted earnings per share of 6.1 pence up by 22 percent (Adjusted EPS stated before exceptional operating charges of £3 million, an impairment of £24 million relating to the Group’s investment in ITV, £1 million loss relating to mark-to-market in derivative financial instruments that do not qualify for hedge accounting, an adjustment of £6 million relating to a deferred tax write-off following a change in law in the period in respect of industrial building allowances, and related tax effects)
• Basic earnings per share of 4.2 pence
• Net exceptional items of 33 million pounds

Jeremy Darroch, Chief Executive, said, “This is a good set of results in a challenging environment. We’ve continued to perform well by focusing on quality, value and service. Over nine million customers now enjoy the best in entertainment through Sky and, in tougher times, we’re helping more people to save money on broadband and telephony as well.”

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