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BSkyB reports 20 per cent growth in profits to pounds 192m.(Brief Article)
BSkyB continued to hit its growth targets with an increase in profits of 20 per cent to pounds 192 million while breaking the barrier of six million subscribers, according to its latest results.
The satellite broadcaster saw a revenue increase of 20 per cent to pounds 2.78 billion for the year to 30 June on the back of increased subscriber numbers and a boost in interactive revenues.
However, its annual pre-tax loss was pounds 1.2 billion after writing off its investment in the failed KirchPayTV to the tune of pounds 971 million.
Sky's improved cashflow and revenues put it in a strong position to buy Channel 5. However, following Lord Puttnam's report it remains unclear if the Communications Bill will allow Rupert Murdoch to move for Channel 5. Bertlesmann, which owns 65 per cent of Channel 5, is considering a sell-off of UK and US assets following the ousting of its chief executive, Thomas Middlehoff.
Sky's subscriber numbers grew to 6.1 million, an increase of 648,000.
Average revenue per subscriber increased 11 per cent to pounds ...
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