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Net loss for the company was STG539 million, or STG0.29 per share, compared with net losses of STG197.7 million or a loss of STG0.11 per share for the year ending 2000.
The losses are due in part to an increase in programming costs, with sports costs increasing by STG31 million to STG417 million for the year and increase of STG59 million in movie costs to STG336 million.
Wholesale revenue from cable fell by 12 percent to STG247 million due to a five percent fall in the average number of cable subscribers taking one or more Sky channels.
Operating profit before exceptional items and goodwill for the year increased to 160 million, up 88 percent on the previous year. EBITDA for the year, before exceptional items, increased from 2000 by 67 percent to STG224 million. While revenues increased by 25 percent on the previous year to STG2.3 million, costs were also up by STG384 million to STG2.1 million.
Total subscribers to Sky from UK and Ireland increased by one million to ten million in the year ending June 2001, and by 153,000 in the quarter. The total number of DTH (direct to home) subscribers increased by 940,000 in the year to 5.5 million.
The total number of digital subscribers increased by 1.7 million in the year bringing it to 5.3 million.
In a prepared statement, Tony Ball, chief executive of British Sky Broadcasting plc said that the company's focus would remain on profitability driven by strong revenue growth. He said that Sky is hopeful that it will deliver positive cash flow from the end of the calendar year onwards.
Earlier this month, it was announced that BskyB is working on a project that will allow its Irish digital customers to access on-line services such as betting and e-mail via their televisions. According to Sky Interactive, the company is currently working with an undisclosed Irish telecoms company to eventually offer Sky Digital subscribers here on-line access through their set-top boxes.
However the company faces some trouble currently as the European Commission is looking into a complaint about BskyB's exclusive contracts with program makers such as the Walt Disney company and Discovery Communications. The complaint is regarding a possible abuse of a dominant market position.
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