BSkyB saw revenues grow but profits fall slightly for the year ended 30 June 2007.

Turnover was up 10 per cent to £4.55bn, but profits - or at least Ebitda - was down slightly at £1.01bn, compared to £1.02bn last year.

Network investment soaked up a lot of cash and Sky also made one exceptional payment of £65m to a channel provider.

Margins are still grossly healthy - gross margin is 63 per cent compared to 61 per cent last year.

The firm has enjoyed a 13 per cent increase in new customers, with high definition services reaching 292,000.

Overall, TV customer numbers are now 8.582 million, while Sky Broadband is serving 716,000.

Sky now has its own kit in 1,150 telephone exchanges around the UK, covering 70 per cent of households. And while a basic broadband service is bundled with TV, 71 per cent of its broadband customers are now choosing to pay for the service.

As a telecommunications company, Sky is shaping up well, with broadband, TV, and over half a million customers on Sky Talk. The only missing component is a mobile phone network, and that can't be absent for long.

The full results are here. ®

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