Robust quarterly performance with broad product growth and strong loyalty
- Good growth in products and customers, up 533,000 and 48,000 respectively
- One in three customers now takes all three of TV, broadband and talk
- Strong customer loyalty with Q1 churn of 10.9%
Extending leadership in content
- Long-term renewals in sports and movies providing certainty on content leadership
- Spectacular success of Ryder Cup - 4.8m viewers and 700,000 unique Sky Go users
Bringing world-class innovation to customers
- Launch of catch up service offers the best of pay and free TV on demand
- Award-winning Sky+HD box re-launched with six times more storage
- Unique users of Sky Go up 75%, confirming leadership in over-the-top content delivery
Top-line growth and operational efficiency driving strong financial performance
- Revenue up 4%
- Adjusted operating profit up 5%
- Adjusted basic earnings per share up 16%
- Approval sought at 2012 AGM for further £500m share buy-back programme in 2012/13
Jeremy Darroch, Chief Executive, commented:
"We have made a strong start to the year, delivering another good quarterly performance and continuing to position the business for the long term. Our investment in high quality content and innovative services has delivered excellent levels of loyalty and generated good growth in customers and products. At the same time, we continue to drive improvements in efficiency, reliability and customer service throughout our operations. This approach continues to generate strong financial results with good growth in revenues and earnings. Looking forward, whilst we continue to see a challenging consumer environment in the UK and Ireland, we are well positioned to execute our plans for the year."
