BSkyB profits up as it adds 77,000 subscribers

BSkyB said this morning its full-year pretax profit climbed 1 per cent to £798 million sterling ($1

BSkyB said this morning its full-year pretax profit climbed 1 per cent to £798 million sterling ($1.49 billion) as it added 77,000 customers in the fourth quarter.

The British pay-TV company, 38 per cent owned by Rupert Murdoch's News Corp , now has 8.18 million subscribers to its pay-TV service, up about 4.8 per cent from the previous year.

Revenue for the year ended June 30th climbed 8 per cent to £4.1 billion.

The company's fourth-quarter annualised revenue per subscriber was £388, down £4 from the previous quarter.

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Quarterly churn, or the percentage of customers who dropped their subscription, was 10.6 per cent, flat with a year earlier and down from 11.4 per cent in the third quarter.

BSkyB, which has launched a broadband service after its acquisition of Internet service provider Easynet, said Easynet produced an operating loss of £11 million. The first phase of investment in broadband was £12 million.

The company plans to invest about one-sixth of its operating profit over the next two years in broadband. It raised its final dividend 34 per cent to 6.7 pence per share.