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NTL raises profit predictions for next 2 years

Broadband customers grew 74% last quarter

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NTL has upped its earnings estimates for the next two years after reporting a rise in Q2 sales.

The British cable TV outfit saw sales grow to £634 million for the three months ended June 2001, compared to £614 million for the same period the previous year.

Last week the company announced its profit for the second quarter early to quell investment fears - earnings rose to £115 million from £86 million.

It added that profits for 2001 were expected to be £100 million higher than previously forecast.

In line with this, NTL today upped its profit estimate for 2001 to £845 million, and raised its 2002 estimate by £125 million to £950 million.

Meanwhile, NTL's crystal ball predicted a profit of £1.57 billion for 2003.

The company said its broadband customers grew 74 per cent to 45,750 in Q2, while its digital TV users grew 26 per cent to 951,300. ®

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