Sky's full-year adjusted operating profit rises 12 pct
LONDON, July 28 (Reuters) - European pay-TV group Sky (Amsterdam: BK8.AS - news) reported a 12 percent rise in full-year adjusted operating profit on Thursday, just ahead of forecasts, in what it said was another excellent year for the group.
Sky (LSE: BSY.L - news) , in which Rupert Murdoch's Twenty-First Century Fox owns 39 percent, has been adapting its business in recent quarters, seeking to earn more money from existing customers through new products instead of chasing customer group as before.
On Thursday the group said its revenue in the year to June 30 rose 7 percent to 11.97 billion pounds ($15.78 billion), with adjusted operating profit coming in at 1.56 billion pounds.
Churn - the percentage of customers leaving - in its biggest UK and Ireland (Other OTC: IRLD - news) market was 11.2 percent in the fourth-quarter, reflecting in part the growing proportion of broadband-only customers in its base who are more likely to switch suppliers.
($1 = 0.7586 pounds) (Reporting by Paul Sandle; editing by Kate Holton)