BSkyB Reports 3 Million Pounds 3Q Profit

ROBERT BARR

LONDON (AP) — Satellite TV service British Sky Broadcasting Group PLC on Thursday reported a profit of 3 million pounds in its third quarter as consumers took their entertainment at home because of the recession, reversing a loss a year earlier.

In the three months ending March 31, revenue rose 12 percent to 1.4 billion pounds ($2.1 billion), and the company added 80,000 net customers in the quarter, up 43 percent from a year earlier.

For the first nine months of the year, BSkyB reported a net profit of 169 million pounds versus a loss of 118 million pounds a year earlier. Revenue was up 8 percent to 4 billion pounds.

BSkyB shares were up 5.6 percent at 491 pence on the London Stock Exchange.

"The market could hardly have asked for more from these numbers," said Richard Hunter, analyst at Hargreaves Lansdown Stockbrokers.

"In a difficult economic environment, the current consumer shift toward preferring entertainment at home is playing into Sky's hands, whilst its high-definition strategy has also gained traction," Hunter added.