NTL, the UK’s number one cable company, yesterday announced it will stand by its financial targets for the coming year, following a strong set of Q4 results.
The group posted fourth quarter EBITDA (earnings before interest, taxes and amortization) of £65 million, giving a full-year total of £229m. Revenues stood at £596m for the quarter; £1.88 billion for the year.
Despite recent adjustments to earnings forecasts by other technology companies such as Motorola and Sema, NTL chief executive Barclay Knapp predicted that the company would reach its full-year target for 2001 of £385m in earnings and £2.6bn in revenues.
News source: BBC Online Business News (UK)