NTL Losses Down as Revenues Rise

04 November 2003

Cable operator NTL has posted a rise in third-quarter revenues and a fall in losses.

US-owned but with its main operations in the UK, the group reported a 4% rise in Q3 sales to £555.2 million ($940.9m; €811.9m). Net losses narrowed from £369.1m last year to £117.3m.

NTL appears to be recovering well from a spell under bankruptcy protection and its £6.9 billion debt-for-equity restructuring. However, some concerns remain - the group's churn rate rose to 14.4% in Q3 from 12.9% the previous quarter.

High-speed internet remains a rapidly expanding segment of NTL's business. The company added just over 100,000 new broadband subscribers in Q3 to bring the total to 864,600, though this marked a slight slowdown in growth from Q2.

Data sourced from: MediaGuardian.co.uk; additional content by WARC staff