BT have released results for BT Sports covering the second quarter and half year (ending 30 September) and will be able to reflect with some satisfaction on its opening three months, having now claimed two million subscribers.
“These are good results, with growth in earnings per share and free cash flow,” says Gavin Patterson, Chief Executive Officer. “This has been our strongest ever quarter for fibre take-up with Openreach net connections up 70%. Our fibre network now passes more than 17 million premises. It is open to all and many other service providers have now got behind it. BT Sport has made a confident start and is already delivering for viewers.”
It lists the following financial highlights for the second quarter:
- Key revenue measure down 0.5% compared with a 5.5% decline in the prior year
- EBITDA decline reflects the expected BT Sport investment
- Efficiencies from cost transformation programmes running at a faster pace than in the first quarter
- Profit before tax and earnings per share up 2%
- Interim dividend up 13% to 3.4p
- Outlook reaffirmed
BT Sport has rights to exclusively show 38 live football matches from the Barclays English Premier League, including 18 of the “top picks” from August 2013 for three seasons. It also broadcasts football from the FA Cup, UEFA Europa League and from leagues in Germany, Italy, France, Brazil, Australia and the USA.