BSkyB sees higher profits as competition increases
BSkyB expects profit and cash flow to grow in coming years as it continues to add clients even as competition increases. "The pay-TV market is an attractive place to be," Chief Executive Officer Jeremy Darroch said at a Morgan Stanley conference in Barcelona, adding "BSkyB is well-positioned to increase earnings and cash flow."
BSkyB reported in October that new subscribers and demand for high-definition programs boosted fiscal first-quarter profit. BSkyB, which owns the Sky TV channels, won 94,000 net new subscribers in the quarter ended Sept. 30 for a total of 9.54 million. The company has a target to reach 10 million customers in 2010.