bassethound
29-07-11, 11:57
British Sky Broadcasting has unveiled profits of more than £1bn for its last financial year.
BSkyB, which runs Sky News, saw operating profits rise 23% to £1.073bn in the year to June 30, as revenues rose 16% to £6.5bn.
It added it saw total product growth of 784,000 in the last quarter to 25.4 million, up 17% year on year.
BSkyB shares rose 0.7% in early trading.
The company saw its revenues soar 16% to £6.6bn as it sold an extra three million products in the year.
The biggest customer additions were seen in its television division, which added 327,000 customers.
Speaking on Sky News, BSkyB chief executive Jeremy Darroch pledged his support for chairman James Murdoch in the wake of the phone-hacking scandal, saying that "the board was unanimous in their support for James to continue".
BSkyB and the BBC have been awarded the live TV rights to Formula One between 2012 and 2018.
Under the terms of the deal, Sky will show all of the races in each season, while the BBC will show only half of them.
BSkyB said Sky+HD customer numbers reached 3.8 million, up 30% year on year, with growth in all home communications product lines with 2.4 million net additions - new services taken by customers - in the year.
The board announced improved shareholder returns with the full-year dividend increasing 20% to 23.2p.
Chairman James Murdoch, who will remain in his post, also revealed plans for a £750m return to shareholders through a share buyback programme.
Mr Darroch said: "Sky has had an excellent year of delivery for both customers and shareholders.
"We have stayed focused on executing our plan and customers have responded by rewarding us with more of their business."
BSkyB, which runs Sky News, saw operating profits rise 23% to £1.073bn in the year to June 30, as revenues rose 16% to £6.5bn.
It added it saw total product growth of 784,000 in the last quarter to 25.4 million, up 17% year on year.
BSkyB shares rose 0.7% in early trading.
The company saw its revenues soar 16% to £6.6bn as it sold an extra three million products in the year.
The biggest customer additions were seen in its television division, which added 327,000 customers.
Speaking on Sky News, BSkyB chief executive Jeremy Darroch pledged his support for chairman James Murdoch in the wake of the phone-hacking scandal, saying that "the board was unanimous in their support for James to continue".
BSkyB and the BBC have been awarded the live TV rights to Formula One between 2012 and 2018.
Under the terms of the deal, Sky will show all of the races in each season, while the BBC will show only half of them.
BSkyB said Sky+HD customer numbers reached 3.8 million, up 30% year on year, with growth in all home communications product lines with 2.4 million net additions - new services taken by customers - in the year.
The board announced improved shareholder returns with the full-year dividend increasing 20% to 23.2p.
Chairman James Murdoch, who will remain in his post, also revealed plans for a £750m return to shareholders through a share buyback programme.
Mr Darroch said: "Sky has had an excellent year of delivery for both customers and shareholders.
"We have stayed focused on executing our plan and customers have responded by rewarding us with more of their business."