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SKY Sky

1,727.50
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Last Updated: 00:00:00
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Share Name Share Symbol Market Type Share ISIN Share Description
Sky LSE:SKY London Ordinary Share GB0001411924 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,727.50 1,727.00 1,727.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

TalkTalk Fiscal Year Revenue Rises; Now Over 1 Million TV Customers -- Update

15/05/2014 12:55pm

Dow Jones News


Sky (LSE:SKY)
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By Tapan Panchal

(Adds background, CEO statement, analyst comments, updates throughout.)

LONDON--TalkTalk Telecom Group PLC (TALK.LN) said Thursday it now has over 1 million TV customers, boosting its fiscal 2014 revenue by 3.4%, and it expects similar revenue growth for the next year.

"We have built a TV business with over one million customers in just 18 months - a quarter of our total customer base," Chief Executive Dido Harding said, adding that the company expects all of its all of its customers to eventually take the YouView TV.

TalkTalk, which provides television, mobile and internet services in the U.K., said it added 687,000 customers to its YouView TV base in the year ended March 31. The company expects to add a similar number of TV customers in fiscal 2015.

For fiscal 2014, the company reported a slight rise in total revenue to 1.72 billion pounds ($2.89 billion), from GBP1.67 billion a year earlier, while pretax profit fell to GBP31 million, from GBP122 million, partly due to increased investments in the business.

TalkTalk, which was demerged from Carphone Warehouse (CPW.LN) in 2010, added that revenue for fiscal 2015 is expected to grow at least 4% and it remains confident of achieving at least 15% dividend growth. The company said it remains on track to achieve its previous set revenue and margin targets by fiscal 2017.

The FTSE 250-listed firm declared a final dividend of 8.0 pence per share, making a total dividend for fiscal 2014 of 12.0 pence, up 15% from 10.4 pence paid a year earlier.

Barclays' European telecom analysts said the company's fiscal 2014 result demonstrated clear progress toward its medium-term goals and that the fiscal 2015 targets are in line with Barclays' estimates.

Barclays has kept its estimates broadly unchanged and rates the company 'Overweight' with a 350 pence price target.

TalkTalk shares at 1038 GMT were up 1 pence, or 0.21%, at 292 pence, valuing the firm at GBP2.78 billion.

Write to Tapan Panchal at tapan.panchal@wsj.com

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