BSKYB sees profit soar Sky high

Nick Raynor, investment adviser at The Share Centre explains what this means for investors.

"This morning BSKYB reported that its pre-tax profits climbed to £237m from £185m in the six months to 31 December. The company reported that it had added 140,000 customers during the period, taking the total number above 10m. Nearly a quarter of customers take all three services on offer - telephone, broadband and TV services.

"It's good to see that the results released from BSKYB today show no affect or disruption from the Newscorp bid currently on the table. The company is still eager to expand its services as highlighted with the recent purchase of The Cloud, a provider of Wi-Fi networks and locations across the UK.

"These are good results and it's easy to see why Newscorp would want a piece of the action.  We will continue with our hold recommendation pending the outcome of the takeover offer."