Liberty: We have $4bn liquidity
May 5, 2011
Reporting its first quarter, Liberty Global says it added 251,000 organic RGUs across its networks. Turnover for the period grew 4 per cent to $2.43 billion, operating profit climbed 90 per cent to $578 million and free cash flow amounted to $265 million.
President & CEO Mike Fries said the excellent additions were led by Unity Media in Germany. He said the business ended Q1 with $4 billion in liquidity even after allocating $1.6 billion to the buy of Kabel BW. The company has repurchased $300 million of its own stock and remains committed to buying $1bn during the year.
At March 31st Liberty Global had 17.6 million customers, 16.7 million for video, 6.6 million broadband internet and 4.7 million voice telephony.