Telenet Q1 profits up

telenetBelgian cableco Telenet’s increased revenue by 11 per cent in the first quarter as it more than doubled its mobile phone subscribers from a year earlier.

The group, which offers cable TV, Internet and telephony to customers in the Dutch-speaking north of Belgium, made 405.6 million in revenues in the first quarter. Telenet said it had 625,000 mobile customers at the end of March, up from 257,800 a year earlier.

Telenet also reported that that 76 per cent of its connected homes now take digital TV and 42 per cent subscribe to triple play.

The penetration rate is now 73 per cent with 2,106,200 homes connected out of 2,875,100 homes passed. The cableco stated its net loss of basic cable TV subscribers remains stable compared to Q4, 2012, with 11,400 homes lost.

At the end of March 2013, the cablco served 1,599,500 digital TV customers – up 14 per cent from Q1 2012.

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