LONDON: Sky plc (BSY.L,SKY.L) reported profit before tax of 377 million pounds for the six months ended 31 December 2016 compared to 414 million pounds, previous year. Profit for the period attributable to equity shareholders of the parent company decreased year-over-year to 321 million pounds or 18.7 pence per share from 359 million pounds or 20.9 pence, last year. Adjusted profit per share was 28.1 pence compared to 29.7 pence. First-half Group revenues grew to 6.41 billion pounds from 5.72 billion pounds, prior year. Revenues were up 6% on a constant currency basis. Advertising revenue was up 4%, despite the softer UK TV advertising market.
Jeremy Darroch, Group Chief Executive, said: “We have delivered a strong first half performance across the group, continue to make significant progress against our strategy and remain on track for the full year. In the UK we plan to launch our Sky TV service without the need for a satellite dish for the first time.” As part of the terms of the proposed takeover by 21st Century Fox of Sky, the Group will not pay any dividends in 2017. Under the terms of the acquisition, if the effective date has not occurred on or before 31 December 2017, shareholders shall be entitled to receive a special dividend of 10 pence per Sky share, payable in 2018.
