BSkyB has defied the recession with a 13% increase in profits, up from £521 million last year to £589 million in 2009. The UK broadcasting group which offers a whole range of services including telephone and broadband, is remaining cautious despite the sudden spike, describing trading conditions as ‘difficult’ as the credit crunch continues.
Chief Executive of the company, Jeremy Darroch, said that conditions are likely to remain ‘challenging for the rest of 2009’ due to the economic downturn.
The TV provider also revealed it’s enjoyed a wave of 80,000 new subscribers signing up to its services in the first quarter, bringing its total number to 9.3million, 2 million of which have signed up to Sky. The brand new HD service offered by the broadcasting company is proving particularly popular, as UK householders get ready for the digital switch-over in 2012.