BROADCASTER BSkyB has returned to profit this year as customers increasingly opt for value-for-money home entertainment during the credit crunch.

The satellite TV provider saw profits of £259m in the year to June 30 - from a loss of £127m last time - with shareholders receiving 14.9p a share this year.

The company has slashed the cost of one of its high definition boxes from £149 to £49, which has resulted in an `excellent year of growth'.

It saw 124,000 new customers join the company in the fourth quarter, taking its total number of customers at the year end to 9.4m.

Chief finance director Andrew Griffith told the M.E.N. that the company is on track to reach 10m customers by the end of December 2010. He said: "In the north west, we are seeing a great deal of interest in our services - and particularly the HD boxes - as homeowners increasingly prepare themselves for the digital switchover.

"They see our services as a way of future-proofing their viewing.

"But quite apart from the great packages available, we also offer our customers exceptional value for money.

"And our customers are saving money by switching their broadband and phone services to us."

The company, which broadcasts most Premier League matches, said that it would continue to increase its broadband and telephony business.

Mr Griffith said that the company had invested £130m in its HD boxes but he is confident of recouping this cost within 12 months as a result of the monthly subscriptions. He added: "I believe that we are on target to achieve 10 million customers by the end of next year, as our customers know that they will get the best in sport and other entertainment and increasingly demand high definition viewing.

"High definition has been identified as the future of broadcasting, and other media organisations are now following us." Tweet