BSkyB growth raises News Corp stakes

BSkyB has reported strong growth in the three months to the end of March, adding pressure on Rupert Murdoch's News Corporation to improve its 700p-per-share offer when culture secretary Jeremy Hunt gives final clearance for the takeover to go ahead.

BSkyB added a total of 51,000 new customers in the first quarter – ahead of most analysts' expectations – as revenue grew 12.8% year on year to £1.65bn and underlying earnings grew by 5% to £344m. On an adjusted basis, pre-tax profits were down 32.7% year on year to £238m due to exceptional items in the first quarter last year such as the sale of most of BSkyB's 17.9% stake in ITV.