GOOD PROGRESS ON STRATEGY DELIVERING STRONG FINANCIAL PERFORMANCE
|
|
Adjusted results |
Reported results |
||||
|
Half year |
2012/13 |
2011/12 |
Variance |
2012/13 |
2011/12 |
Variance |
|
Revenue |
£3,533m |
£3,364m |
+5% |
£3,533m |
£3,364m |
+5% |
|
EBITDA |
£813m |
£772m |
+5% |
£845m |
£803m |
+5% |
|
Operating profit |
£647m |
£601m |
+8% |
£679m |
£632m |
+7% |
|
Earnings per share (basic) |
28.3p |
24.0p |
+18% |
29.7p |
25.3p |
+17% |
|
Dividend per share |
11.00p |
9.20p |
+20% |
11.00p |
9.20p |
+20% |
Further strong financial performance and increased returns to shareholders
Revenue up 5% to £3,533m
Adjusted operating profit up 8% to £647m
Adjusted basic earnings per share up 18% to 28.3 pence
Interim dividend up 20% to 11.0 pence
Multi-product strategy delivering good operational growth
Subscription product growth of 615,000 in Q2
Total subscription product base of 29.5 million, up 10% year on year
Triple-play penetration of 33%, up 4pp year on year
88,000 new customers added in Q2 to reach 10.74 million, up 271,000 year on year
ARPU of £568, up £24 year on year
Customers responding positively to our content and products
New services driving increased viewing - weekly On Demand downloads up 150% in Q2; Sky Go users increased 46% year on year to reach 3.1 million
Standout performance from Sky Sports - record audiences for Ryder Cup and US Open tennis, and over 9 million viewers to first season of Sky Sports F1 channel
Continued excellent progress in cost initiatives and efficiency improvements
Adjusted other operating costs as percentage of sales reduced by 200 basis points
Jeremy Darroch, Chief Executive, commented:
"We have delivered another good performance in the first half with strong progress across the board. In what remains a tough consumer environment, our broadly-based growth strategy is working well. Good product growth in the quarter means that our total base of subscription products has grown by 10% year on year.
"During the half, we have invested in providing the best service to our customers while continuing to drive greater operational efficiency. We strengthened our content offering, extended our leadership in customer technology and continued to lead the industry in customer service.
"As a result, more households are joining Sky, our existing customers are staying loyal and they are choosing to spend more with us. In particular, we have seen a strong response to new services like On Demand and Sky Go which increase customer satisfaction and loyalty and will provide important sources of future growth.
"Together with our continued focus on cost control and efficiencies, this has delivered another excellent financial performance and increased returns to shareholders. We grew earnings per share by 18% in the first half and have increased the interim dividend by a further 20% to 11 pence.
"Although we expect the consumer environment in 2013 to remain challenging, we have a strong set of plans for the year ahead. We will keep getting better on screen, further improve our products and services for customers and maintain our focus on efficiency. The business is in good shape to continue to deliver for customers and shareholders."
