(MENAFN- ProactiveInvestors) Strong demand for pay-TV in the UK and Ireland and record customer growth in Germany boosted first half profits at satellite broadcaster Sky (LON:SKY).
Fresh from the tie-up of Britain's Sky Deutschland and Sky Italia the enlarged company said it added 204000 new customers in the UK and Ireland in the six months to 31 December its highest growth in nine years.
It also saw record growth in Germany and Austria with 214000 new customers while it added 30000 new customers in Italy the highest growth in 12 quarters.
In total Jeremy Darroch chief executive said Sky added 1.5mln paid-for subscription products in the second quarter a 25% increase year on year while the business also saw a significant decline in the number of people leaving its platforms the churn rate.
Group revenues rose 5% to £5.6bn for the business which scooped exclusive UK and Ireland rights this week for The Open Championship – ending the BBC’s 60 year live coverage of the golfing event.
The media group 39%-owned by Rupert Murdoch's Fox also posted a 16% rise in first-half adjusted operating profit (£675mln) in its maiden results as a European pay-TV group.
Net profit in the six months ended 31 December totalled £1.09bln.
Last week Sky teamed up with O2’s current owner Telefonica to launch its own mobile network.
The multi-year deal will make Sky the third 'quad-play' provider in the UK rivalling BT and by offering broadband mobile TV and landline stakes.
The group sold a majority stake in its bookie business Sky Bet at the end of last year to CVC Capital Partners for around £600mln.
Today Sky said the deal is on track and remains scheduled to close in the third quarter pending regulatory approval.
Shares added 2% in early deals to reach 962p.
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