Advanced Television

Virgin Media strong Q2

August 6, 2014

Virgin Media, the UK cable operator has published preliminary unaudited operating and financial  information for the three months ended June 30th 2014.

Highlights include
– Rebased revenue increased 3 per cent to £1,054 million in Q2 and 2 per cent to £2.098 billion (€2.5bn) YTD
– Rebased cable revenue growth fueled by Q1 2014 price rise and growth in internet RGUs improved customer mix driving 12 per cent growth in Q2 rebased mobile subscription revenue
– Return to growth in business with rebased revenue growth of 6 per cent in Q2
– Q2 rebased revenue growth rate achieved despite a £7 million revenue loss following the May 1st 2014 legislative change in value added tax (“VAT”) rules
– Rebased OCF3 increased by 6 per cent in Q2 and 6 per cent YTD to £459 million and £904 million, respectively
– Virgin Media generated operating income of £39 million in Q2 and £58 million YTD.

Categories: Articles, Business, Cable, Results