BSkyB - Full Year 2011/12 Results Interview With CEO and CFO

Jul 26, 2012, 03:37 ET from BSkyB

LONDON, July 26, 2012 /PRNewswire/ --

In a full-years video interview, BSkyB Chief Executive Jeremy Darroch speaks about another strong set of results for the business.

"I think it has been a quarter and a year again where we've been strong across the board, so our operational performance has once again been very strong. We've seen good growth right across our range of products and services, but I think we've combined that well with further improvements in our customers' experience."

He also reflects on the impact that BSkyB has on the UK economy:

" a company, we're contributing something like £5.5bn to UK GDP. We work directly with over 4,000 suppliers. We probably account for something of the order of 120,000 jobs in the UK and contribute over £2bn of tax revenue. So I think our contribution is very, very strong."

In an additional interview, Andrew Griffith, CFO, gives a summary of the financial performance of BSkyB, revealing revenue growth of 4.5% and profit growth of 14%, with earnings breaking through 50p for the first time. He also gives an update on shareholder returns; in addition to an increase in the dividend he also describes the rationale for the further share buy-back announced in the results.

"...another £0.5bn of share repurchases over the next 12 months. We'll ask for authority to do that at the next AGM. News Corp have agreed to participate pro rata so that their stake won't accrete upwards. I think that really shows in the round how our clear and consistent policies on use of capital are working. We're investing in growth, we're delivering the returns and when we're able to, with our strong financial flexibility, we'll continue to return to shareholders as well."

Looking ahead, Darroch concludes:

"We continue to see strong headroom in all of the markets in which we compete in the UK. We continue to see an appetite within our customers to take more products and services from Sky."

The interviews and transcript are available now on

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