BSkyB sees higher profits as competition increases
November 19, 2009
BSkyB expects profit and cash flow to grow in coming years as it continues to add clients even as competition increases. “The pay-TV market is an attractive place to be,” Chief Executive Officer Jeremy Darroch said at a Morgan Stanley conference in Barcelona, adding “BSkyB is well-positioned to increase earnings and cash flow.”
BSkyB reported in October that new subscribers and demand for high-definition programs boosted fiscal first-quarter profit. BSkyB, which owns the Sky TV channels, won 94,000 net new subscribers in the quarter ended Sept. 30 for a total of 9.54 million. The company has a target to reach 10 million customers in 2010.