NTL Cuts Growth Forecasts

15 January 2003

In its post-Chapter 11 persona, US-owned cable group NTL[WAMN: 14-Jan-03], is exhibiting far more caution with its sales projections than last year.

The company – Britain’s largest cable operator – has slashed its growth forecasts, blaming a reduction in its capital expenditure as part of a cost-cutting programme. Other factors expected to curtail expansion include a recent fall in NTL’s subscriber base and increased competition from telecoms giant BT Group and satellite operator BSkyB.

In a filing with America’s Securities & Exchange Commission, NTL reduced 2003 sales estimates by 9.4%, from figures released last year, to £2.19 billion ($3.52bn; €3.33bn), while forecasts for 2004 were cut by 23% to £2.35bn.

Data sourced from: Financial Times; additional content by WARC staff