BRITISH SKY BROADCASTING GROUP PLC
Results for the twelve months ended 30 June 2007
Strong operational and financial performance; 27% increase in the full year
dividend
More customers are choosing more of Sky's products than ever before
- Annual new customer additions 1.446 million, growth of 13% on the prior year
- Annual net customer growth of 406,000 to 8.582 million
- Record Sky+ growth of 821,000 to 2.374 million, 28% penetration of the base
- HD customers of 292,000, Sky's fastest take-up for an additional TV product
- Sky Broadband customers of 716,000
- Record Sky Talk customer growth of 342,000 to 526,000
- 1,150 exchanges unbundled, 70% coverage of UK households
Strong top-line growth; profits reflect investment for future growth
- Revenue increased by 10% to £4,551 million
- Underlying gross margin of 63%, up from 61% in the prior year(1)
- EBITDA of £1,007 million despite broadband and telephony investment
- Operating profit of £815 million, including losses of £169 million from
Residential Broadband and £23 million from Easynet Enterprise, and an
exceptional gain of £49 million(2)
- Underlying operating profit increased to £958 million, annual growth of 6%
- Basic EPS of 28.4p (2006: 30.2p) and adjusted EPS of 26.3p (2006: 30.7p)(3)
- A proposed final dividend of 8.9 pence generating a full year dividend of 15.5
pence, a 27% increase
(1) Underlying gross margin excludes the impact of Residential Broadband,
Easynet Enterprise and the exceptional gain from a third party channel provider
of £65 million accounted for within programming expenses
(2) Net exceptional gain includes a one-off receipt from a third party channel
provider of £65 million and £16 million for litigation costs
(3) Adjusted EPS excludes mark-to-market in derivative financial instruments
that do not qualify for hedge accounting, an exceptional gain of £65 million and
an exceptional charge of £16 million
James Murdoch, Chief Executive said:
"This year has been one of enormous importance and change for us, with the
launch of our broadband and talk services transforming our business and our
future prospects fundamentally. This expanded product range is now attracting
new customers to Sky at a very healthy pace, as well as deepening our
relationships with existing customers.
"The team has delivered a strong financial performance whilst building the
foundations for future growth. Continued successful execution of our strategy
gives us confidence that we are well placed to capitalise on the significant
opportunities available to us, and the proposed 27% increase in the full year
dividend is a mark of that confidence."
Enquiries:
Analysts/Investors:
Andrew Griffith Tel: 020 7705 3118
Robert Kingston Tel: 020 7705 3726
E-mail: investor-relations@bskyb.com
Press:
Robert Fraser Tel: 020 7705 3036
E-mail: corporate.communications@bskyb.com
An interview with Jeremy Darroch, CFO, is available on http://www.sky.com/
corporate and on www.cantos.com in video, audio and text.
A conference call for U.K. and European analysts and investors will be held at
8:30 a.m. (BST) today. To register for this, please contact Silvana Marsh at
Finsbury on +44 20 7251 3801. A live webcast of this call and replay facility
will be available on Sky's corporate website, http://www.sky.com/corporate.
There will be a separate conference call for US analysts and investors at 10.00
a.m. (EST) today. Details of this call have been sent to US institutions and can
be obtained from Dana Johnston at Taylor Rafferty on +1 212 889 4350. A live
webcast of this call and replay facility will be available on Sky's corporate
website, http://www.sky.com/corporate.
Paste the following link into your web browser to download the PDF document related to this announcement:
http://www.rns-pdf.londonstockexchange.com/rns/9714a_-2007-7-26.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
British Sky Broadcasting Group PLC announces Final Results
| Source: British Sky Broadcasting Group PLC
Middlesex, UK--(Marketwire - July 27, 2007) -