Satellite broadcasters BSkyB have announced a 4% rise in annual profits and have added 124,000 subscribers in the past three months.

This boost is a result of price cuts and promotion for its high-definition TV service.

In January, Sky slashed the cost of its HD set-top box to £49, aiming to attract some of the estimated 9 million households with an HD-ready television. Since then it has signed up 534,000 HD customers and now has over 1.3 million subscribers.

They have attracted 124,000 new users in the three months to the end of June and over its financial year as a whole, Sky added 462,000 new customers, its largest gain in five years.

The high-definition service also helped Sky increase the money it makes from its customers, with annual average revenue per user at a new high of £464.

Not only did Sky attracting new users, but they have also been trying to persuade its existing customers to expand the number of its products they take.

This is positive news for the satellite broadcaster and also shows that more people are now buying HD Ready televisions.

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