Satellite broadcaster BSkyB announced a further £500 million buyback today after demand for broadband and overall customer loyalty helped the British group to post record full-year profits.
BSkyB reported full-year revenues up 4.5% to £6.8 billion and record adjusted operating profit up 14% to £1.2 billion.
BSkyB, which provides pay-TV, broadband and telephony services, has focussed in the last year on selling extra services to existing customers after it became increasingly difficult to sign up new subscribers in the tough economic conditions.
The approach enabled the group to lift the average revenue per user to £548, while the number of customers who left the service was down to 9.9%. It added 57,000 new Sky households in the quarter, with 20,000 taking the core TV product.
