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BSkyB profit boosted by broadband bundles

Published: 17:26 02 May 2012 AEST

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Satellite broadcaster BSkyB (LON:BSY) posted record nine-month profits after strong demand for its bundled broadband, TV and phone services.

Operating profit rose by 15 per cent to £908 million on revenues up five per cent at £5.1 billion, ahead of analyst estimates, in the 9 month period ending 31 March.

Jeremy Darroch, chief executive said: “The decision to focus our marketing on home communications has paid off with our fastest quarter of growth since launch and confirmation that Sky is now Britain's favourite triple play provider.”

During the quarter BSkyB said customers took up 702,000 new products, including broadband, telephony and line rental, making it the strongest period for home communications.

The Sky provider added it is on track to deliver its new internet-based TV service, NOW TV, in the first half of the 2012 

NOW TV will allow access to Sky’s channels on a pay-as-you-go or monthly service without a dish or contract.

It is also creating 48 new channels specifically for the Olympics as well as providing content to Eurosport, which will broadcast over 100 hours of the Games in 3D.

MPs yesterday that News Corp founder Rupert Murdoch is not ‘fit’ to run the News Corp empire.

News Corp has a 39 per cent stake in BSkyB and the has been speculation that the Murdoch empire may be forced to sell its stake.

The share price has rallied 2.2 per cent this morning to 706.5 pence.

 

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