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Sky sees revenues hit £5.6bn in half-year financial results

Sky has reported a 5 per cent revenue rise in its latest half-year results, taking the total to over £5.6bn, while operating profits surged 16 per cent to £675m.

The rises come on the back of "record growth" in Germany and Austria where it added 214,000 new customers in the six months ended 31 December.

This compared with 204,000 new customers across the UK and Ireland and a further 30,000 new subscribers in Italy, boosted by the introduction of new programming such as Fortitude and exclusive rights in the UK and Ireland to the Open Championship.

Jeremy Darroch, group chief executive, Sky, remarked: “The strength of our performance in the UK and Ireland shows that our approach to segmenting the market with the complementary Sky and Now TV brands is working. Across the board, customers are responding to our investment in more high-quality TV and innovative new services. This has resulted in the highest customer growth in nine years, the highest total product growth in four years and the lowest churn in a decade.”

Sky’s revenues rose from £5,342m in 2013/14 to £5,604m in 2014/14, reflecting an increased operating profit of £675m, up from £581m the year before.

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