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Sky profits fall due to higher football costs

26th Jan 17 9:28 am

Sky loses money…

The Broadcaster Sky has seen its profits fall by eight per cent due to growing costs on broadcast rights for Premier League football matches.

Operating profits fell to £679m for the six months leading to the 31 December.

Despite this, Sky said its financial performance had been “good”.

Chief executive Jeremy Darroch said: “In a year in which we are absorbing significantly higher programming costs, as a result of the step up in Premier League costs, our financial performance has been good.”

Operating profit was £65m lower than the year before.

The company also said it had added 500,000 more customers.

However, the rate at which customers stop subscribing to the service rose to 11.6 per cent, this is up from 10.2 per cent in the same period the year before.

Sky said this was to do with the change in broadband customers.

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