LONDON – Pay-TV group BSkyB reported first quarter earnings up 16 percent on Thursday as price rises and the sale of additional products to subscribers helped mask an otherwise lacklustre performance in signing up new customers.
BSkyB, which sells pay-TV, broadband and telephony, has launched an online offering and promoted new products to existing customers in the last year as it struggles to sign up new subscribers in the tough economic conditions.
In the first three months of the year, BSkyB signed up 48,000 new households, in line with forecasts, which was made up of 20,000 additions to the core pay-TV offering.
A price rise introduced in September after a two year freeze and a share buyback programme helped lift earnings per share to 13.4 pence. Revenue was up 4 percent to 1.7 billion pounds and adjusted operating profit was up 5 percent to 310 million pounds.
(Reporting by Kate Holton; editing by Rhys Jones)