TalkTalk profits double, YouView set for Q3
May 18, 2012
Shares in TalkTalk rose more than 20 per cent on after the telco boosted its full-year dividend by almost two-thirds and reiterated its bullish outlook.
The company said it had turned a corner after more than doubling annual pre-tax profit and slowing the rate of customer departures. The figures encouraged TalkTalk to commit to raising its dividend by a minimum of 15 per cent in each of the next two years.
Pre-tax profit rose from £57 million to £127 million.
TalkTalk said that this summer’s planned launch of open IPTV platform YouView would help it better compete with BT, British Sky Broadcasting and Virgin Media when offering bundled offers of broadband, phone and TV.
TalkTalk CEO Dido Harding said that a trial YouView box had been installed in her home last week, and that the much-delayed commercial launch would be spread out between June and September.