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Published on July 28th, 2016 | by The GC Team

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Sky posts 12% rise in operating profit

Sky today announced a 7% increase in Group revenues and a 12% rise in operating profit for the year ended 30th June 2016.

The entertainment and communications company posted revenues of £11.96 billion and said it added 808,000 customers during the year, taking its total customer base to 21.8 million.

Operating profit rose to £1.56 billion.

In the UK and Ireland, revenue was up 7% and exceeded £8 billion for the first time, with operating profit up 11% to £1.5 billion.

Group Chief Executive Jeremy Darroch said it had been “another excellent year” for the business.

“Our deep insights into the needs of customers, along with our investments in brilliant programmes and technology, strong relationships with our partners and, above all, our desire to embrace change, means that we continue to better serve our customers and grow our business. Our ambition is to be the best customer-led entertainment and communications company in the world, delivering long-term benefits for all our shareholders.”

The Sky Board proposed a full year dividend of 33.5 pence, delivering the twelfth consecutive year of dividend growth.

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