Following the reports of Sky’s “quarterly interims”, Numis repeated an ‘add’ rating and target price of 1,250p for Sky”.
According to the broadcaster, within a span of nine months which ended in the month of March 2016, its revenue saw a five percent growth to £8.7bn”. On the other hand, the profit during the operations also increased by twelve percent whereby arriving at “£1.14bn”.
The Chief Executive at Sky, Jeremy Darroch’s statement shows that the company has gone through a “strong quarter” while it also crossed a “major milestone”, whereby together in Ireland and the United Kingdom the company delivered forty million products. Moreover, Sky has received “pleasing response” towards its premium of Sky Q box” prior to its “first installations in the current quarter”.
Furthermore, Sky informed that it has acquired a new customer base of “177,000” in the first three months of 2016, which means the number is “160,000” less in comparison to the “previous quarter”. In Numis’ words:
“Net product growth of 177,000 was ahead of consensus 162,000 with a notable performance in Italy and encouraging early response to the premium SkyQ product.
“We upgrade our lower end full year 2016 pre-tax profit/earnings per share forecast to £1,365m/63p (was £1,350m/62p); consensus is 63p. We leave our 2017 estimates, which include the higher costs of the new Premier League contract, unchanged at £1,325m/61p (consensus 59p).”
References:
http://www.digitallook.com/
According to the broadcaster, within a span of nine months which ended in the month of March 2016, its revenue saw a five percent growth to £8.7bn”. On the other hand, the profit during the operations also increased by twelve percent whereby arriving at “£1.14bn”.
The Chief Executive at Sky, Jeremy Darroch’s statement shows that the company has gone through a “strong quarter” while it also crossed a “major milestone”, whereby together in Ireland and the United Kingdom the company delivered forty million products. Moreover, Sky has received “pleasing response” towards its premium of Sky Q box” prior to its “first installations in the current quarter”.
Furthermore, Sky informed that it has acquired a new customer base of “177,000” in the first three months of 2016, which means the number is “160,000” less in comparison to the “previous quarter”. In Numis’ words:
“Net product growth of 177,000 was ahead of consensus 162,000 with a notable performance in Italy and encouraging early response to the premium SkyQ product.
“We upgrade our lower end full year 2016 pre-tax profit/earnings per share forecast to £1,365m/63p (was £1,350m/62p); consensus is 63p. We leave our 2017 estimates, which include the higher costs of the new Premier League contract, unchanged at £1,325m/61p (consensus 59p).”
References:
http://www.digitallook.com/
