Sky HD drives strong H1 performance for BSkyB, 3D-TV to launch in April 2010

FTSE100 media group British Sky Broadcasting Group (LSE: BSY) said a good second quarter performance completed a strong first half. In the six months ended 31 December 2009, total group revenue increased 10% to £2.8 billion, including a 16% increase in retail subscription revenues to £2.2 billion.
Sky reported pretax profits of £358 million, up from £276 million in the comparative period the previous year. Basic earnings per share grew 54% to 14.70 pence. The group also announced a 5% increase to the interim dividend to 7.875 pence per share.

"It has been another good quarter in what remains a tough environment, with more customers joining Sky and strong demand across our entire product range”, chief executive Jeremy Darroch said, "Our financial results were also strong. Total revenue increased by 10% in the first half of the year and, by focusing on operational efficiency, we have been able to absorb the upfront cost of meeting demand and deliver 11% growth in EPS.”

The broadcaster’s strong performance was driven by sales of its High-Definition (HD) television service. “The standout performance came in high definition TV with almost half a million customers choosing Sky+ HD ”, Darroch commented. During the half, Sky+ HD subscriptions surpassed the two million household mark, with net additions more than double the previous year at 482,000. The company has begun to sell the HD service as standard to new customers and has added more HD content and HD channels to customers.

In April 2010, Sky plans to launch Sky 3D, which will be Europe's first dedicated 3D TV channel. Sky 3D will work with all existing Sky+ HD boxes and initially it will only be available to  Sky’s commercial customers, with a residential roll-out planned as 3D-TV sets become more widely available.  http://www.proactiveinvestors.co.uk/companies/news/12725/sky-hd-drives-strong-h1-performance-for-bskyb-3d-tv-to-launch-in-april-2010-12725.html