Q1 Results – A strong start to the year

Jeremy Darroch, Group Chief Executive, comments on our Q1 results ending 30 September 2015

Jeremy Darroch

Excellent financial performance

  • 6% increase in group revenue to £2.8 billion
  • 10% increase in operating profit to £375 million

 

Strong customer demand and loyalty across the group

 

  • 134,000 new customer additions
  • 937,000 new paid-for subscription products, with 133,000 new broadband subscribers in the UK
  • Strong churn performance across all territories Strengthening leadership in content and innovation

 

Taking Sky’s original drama to the next level:

  • The Last Panthers to launch across the group
  • Securing the best content: multi-year agreements with Disney and SANZAR rugby
  • Driving connected services: over 750 million views across 9.6 million connected households

 

Jeremy Darroch, Group Chief Executive, commented:

“We have made a strong start to the year with customers responding well to the quality and breadth of our content, products and services. As we continue to place customers right at the heart of our business, we are focused on offering the very best content at the same time as anticipating customers’ evolving needs, delivering the programmes that they love across multiple platforms and devices.

“This approach has delivered an excellent financial performance in the quarter, with further broadbased revenue growth of 6%, translating into a 10% increase in operating profit. This performance was driven by strong demand across the group. We added over 130,000 new customers in the quarter, up 7% on the previous year, which means that we’ve added almost a million new customers over the past twelve months, up 51% year on year. Our total product base now exceeds 54 million, and within this, broadband growth in the UK had a stand-out performance this quarter, up 77% year on year.

“Our investments in content are driving a great performance on screen, with highlights this quarter including record viewing of Sky Atlantic in the UK, of the Bundesliga in Germany and the X Factor in Italy. We are building scale in our own world class original content, as well as securing key rights including multi-year deals with Disney and SANZAR southern hemisphere rugby.

“We want to make the viewing experience even better for all our customers. Following the success of our proven connected home strategy in the UK and Ireland, we are beginning to roll this out across our other territories. We now have almost 10 million connected households across the group, driving over 750 million views to our connected services this quarter alone.

“As these results show, we are delivering against a clear set of plans across Europe, and are well positioned for the growth opportunities ahead.”

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