Sky: posts good quarter against 'challenging' backdrop

(CercleFinance.com) - British media group Sky said it had a "good quarter" in the first three months of 2018, with like-for-like revenues up 5%, against the backdrop of a challenging consumer environment.


Group like-for-like revenue rose by 5% to 10.1 billion pounds for the nine months to 31 March 2018, while EBITDA grew by 14% to 1.8 billion pounds, thanks to tight cost management.

In the past year, it added 480,000 new customers to its pay-TV service, with 38,000 in the third quarter to March.

Looking ahead, Sky said it expects the consumer environment to remain challenging, but noted that the business was in good shape and that it remained on track for the full year.

Shares in the group - on which Disney is expected to launch a bid as part of the pending acquisition of 21st Century Fox - are up 0.1% in early trading today, valuing the company at 22.5 billion pounds.

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