FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 For the month of May 2004 12 May 2004 BRITISH SKY BROADCASTING GROUP PLC (Name of Registrant) Grant Way, Isleworth, Middlesex, TW7 5QD England (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F X Form 40-F Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934 Yes No X If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not Applicable This Report is incorporated by reference in the prospectus contained in the Registration Statements on Form F-3 (SEC File No. 333-08246) and Form F-3/S-3 (SEC File No.333-106837) filed by the Registrant under the Securities Act of 1933. EXHIBIT INDEX EXHIBIT NO. 1 Excerpt from the announcement made by British Sky Broadcasting Group plc of its financial results for the period ended March 31, 2004 British Sky Broadcasting Group plc Consolidated Profit and Loss Account for the nine months ended 31 March 2004 2003/2004 2002/2003 Before Goodwill and Before Goodwill and goodwill and exceptional Nine goodwill and exceptional Nine exceptional items months exceptional items months items ended 31 items ended 31 March March Total as as Total restated* restated* as restated* GBPm GBPm GBPm GBPm GBPm GBPm (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) ------------------------------------------------------------------------------------------------------------------------------- Turnover: Group and share of joint ventures' turnover 2,759 - 2,759 2,388 - 2,388 Less: share of joint ventures' turnover (62) - (62) (57) - (57) Group turnover 1 2,697 - 2,697 2,331 - 2,331 ------------------------------------------------------------------------------------------------------------------------------- Operating expenses, net 2 (2,259) (87) (2,346) (2,082) (93) (2,175) ------------------------------------------------------------------------------------------------------------------------------- Operating profit (loss) 438 (87) 351 249 (93) 156 ------------------------------------------------------------------------------------------------------------------------------- Share of joint ventures' operating results (4) (4) 1 - 1 Profit on disposal of fixed asset investments 3(i) - 51 51 - - - Amounts written back to (written off) fixed asset investments, net 3(ii) - 24 24 - (18) (18) Profit (loss) on ordinary activities before interest and taxation 434 (12) 422 250 (111) 139 ------------------------------------------------------------------------------------------------------------------------------- Interest receivable and similar income 5 - 5 3 - 3 Interest payable and similar charges (68) - (68) (93) - (93) Profit (loss) on ordinary activities before taxation 371 (12) 359 160 (111) 49 ------------------------------------------------------------------------------------------------------------------------------- Tax on profit (loss) on ordinary activities (116) - (116) (21) - (21) Profit (loss) on ordinary activities after taxation 255 (12) 243 139 (111) 28 ------------------------------------------------------------------------------------------------------------------------------- Equity dividends (53) - Retained profit for the financial period 190 28 ------------------------------------------------------------------------------------------------------------------------------- Earnings per share - basic 12.5p 1.5p Earnings per share - diluted 12.5p 1.5p ------------------------------------------------------------------------------------------------------------------------------- * The results for the nine months ended 31 March 2003 have been restated following the adoption of UITF abstract 38 "Accounting for ESOP trusts". Consolidated Profit and Loss Account for the three months ended 31 March 2004 2003/2004 2002/2003 Before Goodwill and Before Goodwill and goodwill and exceptional Three goodwill and exceptional Three exceptional items months exceptional items months items ended items ended 31 31 March March Total as as Total restated* restated* as restated* GBPm GBPm GBPm GBPm GBPm GBPm (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) --------------------------------------------------------------------------------------------------------------------------------- Turnover: Group and share of joint ventures' turnover 950 - 950 838 - 838 Less: share of joint ventures' turnover (19) - (19) (19) - (19) Group turnover 931 - 931 819 - 819 --------------------------------------------------------------------------------------------------------------------------------- Operating expenses, net (776) (29) (805) (724) (29) (753) --------------------------------------------------------------------------------------------------------------------------------- Operating profit (loss) 155 (29) 126 95 (29) 66 --------------------------------------------------------------------------------------------------------------------------------- Share of joint ventures' operating results 1 - 1 (1) - (1) Profit on disposal of fixed asset investments - 49 49 - - - Amounts written back to fixed asset investments, net - - - - 1 1 Profit (loss) on ordinary activities before interest and taxation 156 20 176 94 (28) 66 --------------------------------------------------------------------------------------------------------------------------------- Interest receivable and similar income 2 - 2 - - - Interest payable and similar charges (23) - (23) (30) - (30) Profit (loss) on ordinary activities before taxation 135 20 155 64 (28) 36 --------------------------------------------------------------------------------------------------------------------------------- Tax (charge) credit on profit (loss) on ordinary activities (42) - (42) (22) 2 (20) Profit (loss) on ordinary activities after taxation 93 20 113 42 (26) 16 --------------------------------------------------------------------------------------------------------------------------------- Equity dividends - - Retained profit for the financial period 113 16 --------------------------------------------------------------------------------------------------------------------------------- Earnings per share - basic 5.8p 0.8p Earnings per share - diluted 5.8p 0.8p --------------------------------------------------------------------------------------------------------------------------------- *The results for the three months ended 31 March 2003 have been restated following the adoption of UITF abstract 38 "Accounting for ESOP trusts". Notes: 1. Turnover 2003/2004 2002/2003 Nine months Nine months ended ended 31 March 31 March GBPm GBPm (unaudited) (unaudited) DTH subscribers 1,973 1,726 Cable subscribers 160 146 Advertising 223 204 Interactive 219 146 Other 122 109 2,697 2,331 ----------------------------------------------------------------------------------------------------------------------- 2. Operating expenses, net 2003/2004 2002/2003 Nine months Nine months ended ended Before 31 March Before 31 March goodwill Goodwill Total goodwill Goodwill Total GBPm GBPm GBPm GBPm GBPm GBPm (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) Programming (i) 1,248 - 1,248 1,168 - 1,168 Transmission and related functions (i) 115 - 115 108 - 108 Marketing 299 - 299 312 - 312 Subscriber management 279 - 279 242 - 242 Administration 195 87 282 185 93 278 Betting 123 - 123 67 - 67 2,259 87 2,346 2,082 93 2,175 ----------------------------------------------------------------------------------------------------------------------- (i) The amounts shown are net of GBP10 million (2002/2003 nine months ended 31 March: GBP9 million) receivable from the disposal of programming rights not acquired for use by the Group, and GBP21 million (2002/2003 nine months ended 31 March: GBP19 million) in respect of the provision to third party broadcasters of spare transponder capacity. 3. Exceptional items (i) Profit on disposal of fixed asset investments On 1 March 2004, the Group sold its 20% shareholding in QVC (UK), operator of QVC - The Shopping Channel, for GBP49 million in cash, realising a profit on disposal of GBP49 million. The profit on disposal is a non-operating exceptional item as defined by FRS 3 "Reporting Financial Performance"and is therefore recorded as an exceptional item below operating profit. On 7 October 2003, the Group disposed of its listed investment in Manchester United plc, realising a profit on disposal of GBP2 million. The profit on disposal is a non-operating exceptional item as defined by FRS 3 "Reporting Financial Performance"and is therefore recorded as an exceptional item below operating profit. (ii) Amounts written back to (written off) fixed asset investments, net The Group reduced its provision against its minority equity investments in football clubs by GBP33 million, following the disposal of its investment in Manchester United plc in October 2003 for GBP62 million in cash. The Group also increased its provision against its remaining minority equity investments in football clubs by a further GBP9 million. The reduction of GBP33 million in the provision is recorded as an exceptional item below operating profit as it relates directly to the disposal of the investment in Manchester United plc as detailed above. The increase of GBP9 million in the remaining provision is recorded as an exceptional item below operating profit due to the distortion that its inclusion within operating expenses would have on the individual operating expenses line item to which it was attributed. 4. Basis of preparation The Consolidated Profit and Loss Account presentation includes the Group's results before goodwill and exceptional items in addition to results after goodwill and exceptional items as this presentation provides an alternative basis that may be used to assess the ongoing operating performance of the Group.