Sky Plc announced its financial results for the nine months to 31st March. Revenue for the nine months to 31st March was £10.1 billion ($14.08 billion), an increase of 5%, compared to revenue of £9.6 billion ($13.38 billion) in the same period of 2017. The group EBITDA was recorded at £1.7 billion ($2.37 billion) resulting in an EBITDA margin of 14.4%. The corporation managed to reach 480,000 new customers and now has 22.9 million.
The financial results showed good sales growth across all geographic segments, especially in UK and Ireland. Sky won 70,000 new customers in this quarter in the UK & Ireland which is 75% higher than the previous year. Germany & Austria segment closed the third quarter with 5.2 million customers with 32% growth in new customers.
Sky added that “this is another good quarter of growth for Sky and strong financial results are driven by continued strong execution of strategies and our continuous efforts to enhance the products and services”.
Analyst Comment
Sky has been the subject of a £22 billion ($30.7 billion) cash bid from Comcast that threatens the bid from Rupert Murdoch’s 21st Century Fox and following the bid, Sky said that it was withdrawing its recommendation on behalf of Fox. (BR)
