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BSkyB Summary Annual Report 2004
Consolidated results  
 
  2004
£m
2003
as restated
(ii)
£m
2002
as restated
(ii)
£m
2001
as restated
(ii)
£m
2000
as
restated
(ii), (iii), (iv)
£m
         
DTH subscribers 2,660 2,341 1,929 1,537 1,189
Cable and DTT subscribers (i) 215 202 279 299 303
Advertising 312 284 251 271 242
Interactive 307 218 186 93 5
Other 162 141 131 106 108
Turnover 3,656 3,186 2,776 2,306 1,847
         
Operating expenses, net (ii) (3,056) (2,822) (2,590) (2,154) (1,762)
Goodwill amortisation (119) (121) (119) (44) -
Exceptional operating items - 5 (18) (23) (105)
Operating profit (loss) 481 248 49 85 (20)
           
Share of joint ventures' and associates' operating results (5) 3 (76) (256) (122)
Joint ventures’ and associates' goodwill amortisation, net 10 - (1,070) (101) (14)
Share of joint venture’s loss on disposal of fixed asset investments - - - (70) (14)
Profit (loss) on disposal of fixed asset investments 51 - 2 - (1)
Amounts written back to (written-off) fixed asset investments, net 24 (15) (60) (39) -
Release of provision (provision) for loss on disposal of subsidiary - - 10 (10) -
Net interest payable and similar charges (81) (114) (137) (132) (92)
Profit (loss) on ordinary activities before taxation 480 122 (1,282) (523) (263)
         
Tax on profit (loss) on ordinary activities (iii) (158) 62 (107) (24) 65
Profit (loss) on ordinary activities after taxation 322 184 (1,389) (547) (198)
         
Statistics        
Basic earnings (loss) per share 16.6p 9.6p (73.6p) (29.6p) (11.3p)
Diluted earnings (loss) per share 16.6p 9.5p (73.6p) (29.6p) (11.3p)
Dividend per share        
– interim 2.75p - - - -
– final 3.25p - - - -
Payments to acquire tangible fixed assets (£m) 132 98 101 133 58
         
DTH subscribers (‘000) 7,355 6,845 6,101 5,453 4,513
Cable subscribers (‘000) (iv) 3,895 3,871 4,091 3,486 3,735
DTT subscribers (‘000) (v) 3,084 1,510 - 1,105 740
Total subscribers (‘000) 14,334 12,226 10,192 10,044 8,988
         
Average number of full-time equivalent employees 9,500 9,132 9,083 9,948 10,730
Capital employed £m £m £m £m £m
         
Fixed assets 828 956 1,087 2,392 1,859
Working capital (349) (202) (26) 8 32
Provisions, tax assets and creditors, and dividend creditor (iii) 40 199 115 182 24
Net debt (429) (1,105) (1,528) (1,547) (1,145)
Net assets (liabilities) 90 (152) (352) 1,035 770


Notes
(i) From 2003, this relates solely to cable subscriber revenues.

(ii) Operating expenses, net; operating profit (loss); profit (loss) on ordinary activities before taxation; profit (loss) on ordinary activities after taxation; fixed assets; working capital and net assets (liabilities) for 2003, 2002, 2001 and 2000 were restated following the adoption by the Group of UITF 38, in the year ended 30 June 2004. Adoption of UITF 38 also resulted in the recalculation of the basic and diluted earnings (loss) per share for 2003, 2002, 2001 and 2000.

(iii) The taxation credit for 2000 was restated following the adoption by the Group of FRS 19, “Deferred tax” in the year ended 30 June 2001 . Adoption of FRS 19 resulted in the recalculation of loss per share for 2000.

(iv) The cable subscribers disclosure for 2000 was restated in the year ended 30 June 2001 to include Ireland subscribers.

(v) From 2003, the Digital Terrestrial Television (“DTT”) subscriber number consists of BARB’s estimate of the number of homes with access to Freeview (the free DTT service operating in the UK ). Up until 2001, this subscriber number included all those subscribing to ITV Digital’s (previously On Digital’s) DTT service.

   
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This is a summary of information extracted from the Company's annual report and accounts. It does not contain sufficient information to allow as full an understanding of the results of the Group and state of affairs as is provided by the full annual report and accounts, which can be downloaded in PDF format from this site.
   
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