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Customer demand drives Sky revenues

Edward Swift

LONDON (ShareCast) - (ShareCast News) - Robust demand, new paid-for products and almost one million new customers have seen Sky (LSE: BSY.L - news) 's revenue for the year rise. The media giant released its results for the year to 30 June 2015 on Friday.

The acquisition of Sky Deutschland (Other OTC: SKDTF - news) and Sky Italia also gave the company a boost, with the FTSE 100 listed company now serving 21m customers.

Nearly one million new customers helped the company increase subscription revenue by 5%.

Overall, it sent revenue up 5% to £11.3bn and operating profit up 18% to £1.4bn.

Sky also added 4.6m new paid-for products, reflecting strong levels of demand across our broad product offering.

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Customers also stuck around, with churn dropping below 10% in all markets thanks to investment in the connected box platform and original drama.

Sky will pay a final dividend of 20.5p per share, which takes the total dividend for the year to 32.8p.

Shares (Berlin: DI6.BE - news) surged on the news, up 25p to 1,042 at 1233 BST.