BSkyB said fourth-quarter net new customers rose by a better than expected 92,000 and is confident of further growth despite economic uncertainty, although profits fell as the satellite broadcaster's investment in ITV took its toll.

The group, which is part owned by News Corporation, parent company of The Times, reported revenue up 9 per cent to £4.95 billion for the 12 months to June 30.

However, the company revealed a £127 million loss for the full year compared with £499 million profit in 2007.

During the fourth quarter, revenue rose from £1.1 billion to £1.2 billion while profits declined from £168 million between April and June last year to £40 million in 2008.

BSkyB has been hit with a £616 million impairment charge on its investment in ITV, the terrestrial broadcaster, in which it owns a 17.9 per cent stake.

It is understood that the fall is also the result of investment in sports rights and continued investment in broadband.

Shares in the group fell nearly 5 per cent to 425.5p but later rallied to 446.5p, almost unchanged.

BSkyB's market capitalisation has fallen 34 per cent in the past year. ITV shares have fallen 57 per cent over the past 12 months.

The Competition Competition ruling on whether BSkyB will have to sell its 17.9 per cent stake in ITV is expected imminently.

BSkyB added 92,000 net new customers in the three months to the end of June, ahead of analyst forecasts, with the company maintaining it is on track to hit 10 million customers in 2010, despite tougher trading conditions. It added 200,000 broadband customers in the fourth quarter to take the total number of subscribers to 1.62 million.

Jeremy Darroch, chief executive of BSkyB, said: "In what has been a more challenging environment, the business has performed well. We have added around 400,000 net new customers this year. We are selling more products to customers than ever before and we have seen a banner year from Sky+, with over 1.3 million new additions."

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