Revenues at Sky Ireland rise 3% to €614m

Revenues at Sky Ireland’s business increased by 3 per cent to £526 million (€614.7m) last year, the latest figures show.

Accounts for UK-based Sky Subscribers Services Ltd show that revenues here last year increased by £16 million to £526 million.

A note attached to the accounts said that the Irish unit’s revenues related to direct-to-home pay television, broadband and telephony services.

Sky’s Irish business recorded the £16 million revenue increase after the business’s 2020 revenues were hit by the pandemic, with the firm pausing subscription charges for its business customers while they were closed due to Covid-19 restrictions.

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Sky Ireland has close to 700,000 subscribers.

The Irish contribution to Sky UK Ltd helped revenues increase by 8.8 per cent to £9.8 billion last year.

The directors said that during the year, the Sky Group increased prices across TV and communication products. The directors also noted that the group saw strong growth of the streaming product, NOW “which benefited from a successful rebranding campaign”.

Sky UK Ltd recorded operating profits of £6 million after taking account of non-cash items of £256 million.

On the impact of Brexit on Sky Subscribers Services Ltd, the directors said that “within the Irish branch, we have implemented additional compliance checks to ensure products placed on UK or Republic of Ireland markets comply with the relevant legislation.”

A directors’ note with the accounts said that the company has opened a warehouse in Dublin to supply product manufacturers in the EU and ensure that no products are moving across the Border.

It said that more costs have been incurred due to extra administration and customs clearance between the UK and the Republic.

“To date, we are not aware of any significant changes to contracts or pricing from a Sky Ireland perspective.”

Sky employs just under 1,000 people in Ireland.