BSkyB reports solid second quarter financials

2 Nov 2012

British alternative fixed line voice and broadband provider BSkyB has released its results for the three-month period ended 30 September 2012, with the operator reporting what it termed a ‘strong’ financial performance, with year-on-year increases in revenue, adjusted profits, adjusted margins and adjusted earnings.

In the second fiscal quarter of its 2013 financial year, BSkyB generated revenues of GBP1.715 billion (USD2.71 billion), up 4% against the same period a year earlier, when it recorded turnover of GBP1.657 billion. The operator noted that growth in both retail and wholesale operations helped to more than offset a weak quarter for advertising. Revenues from its retail subscriptions rose by 4% to GBP1.428 billion, and reflecting continued subscriber growth. EBITDA for the quarter meanwhile totalled GBP392 million, representing a 3% increase against the same quarter last year, while adjusted operating profit was up 5% at GBP310 million, bolstered by a 3% reduction in other operating costs.

In operational terms, at the end of September 2012 BSkyB’s broadband subscriber base had increased to 4.103 million, up from 3.485 million at end-September 2011, while fixed voice subscribers and fixed voice line rental accesses stood at 3.888 million (up from 3.248 million) and 3.708 million (2.892 million) respectively.

Commenting on the results, BSkyB CEO Jeremy Darroch said: ‘We have made a strong start to the year, delivering another good quarterly performance and continuing to position the business for the long term.’

United Kingdom, Sky