Tech
Strong quarter sees Telewest in the black
Published Thursday, Aug 11 2005, 17:15 BST | By Neil Wilkes
Telewest has posted a strong set of financial results today, led by the news that the firm finished £19 million in profit for the second quarter.
The figure compares with a loss of £126 million a year ago, a change mostly due to the company's financial restructuring efforts.
Net customer additions stood at 15,000, down from the 23,000 of the previous quarter, while churn (the proportion of customers who exit the service) was up slightly to 1.2%.
“Telewest has delivered strong financial results and good subscriber growth in television, telephony and broadband internet," said Barry Elson, Acting Chief Executive Officer of Telewest Global, Inc.. "Our focus on marketing the bundle has led to increased triple play penetration, now at 33%."
He added that the company was "confident" of sustaining "profitable growth".
Shares in Telewest Global Inc. were up only a cent at $21.24 at the close of trade on Thursday afternoon.
The figure compares with a loss of £126 million a year ago, a change mostly due to the company's financial restructuring efforts.
Net customer additions stood at 15,000, down from the 23,000 of the previous quarter, while churn (the proportion of customers who exit the service) was up slightly to 1.2%.
“Telewest has delivered strong financial results and good subscriber growth in television, telephony and broadband internet," said Barry Elson, Acting Chief Executive Officer of Telewest Global, Inc.. "Our focus on marketing the bundle has led to increased triple play penetration, now at 33%."
He added that the company was "confident" of sustaining "profitable growth".
Shares in Telewest Global Inc. were up only a cent at $21.24 at the close of trade on Thursday afternoon.
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