Sky announced that profits for year up until 30th June 2007 were down 9% but revenues were up 10% - this is said to be a result of Sky’s entry into the UK Broadband market and having to move into a fiercely competitive market place.
The purchase of EasyNet left a £23 million dent in Sky, and the acquisition of residential customers over the last 12 months has seen the company lose nearly £170 million.
However Sky has also invested heavily in LLU, unbundling in close to 1200 UK exchanges meaning that the full range of their ‘See Speak Surf’ will be available to more people. Sky had also set themselves a target of signing up 700,000 customers within their first year of operating; there are currently 716,000 UK customers subscribing to the full range of Sky services.
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