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Telewest signs up 1000 BB users a week

Reports increased revenues as losses widen

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Telewest is signing up a thousand new broadband customers a week it revealed today.

In the three months to June, Britain's second biggest cableco gained a further 13,000 subscribers bringing the total number of blueyonder broadband users to 38,000.

Add on Telewest's dial-up consumer base and the cableco boasts almost 300,000 Internet users.

What's more, these latest figures should receive a fillip once its joint marketing campaign with cableco NTL to promote broadband begins to stimulate demand.

Details of Telewest's broadband gains were contained in its interim results for the six months to June 30.

Turnover increased 24 per cent to £648 million from £522 million for the same period last year.

Pre-tax losses jumped from £296 million in 2000 to £413 million in H1 2001.

Despite this, the cableco remains confident about its future.

Said Telewest CE, Adam Singer: "This is Telewest's fourth straight quarter in a row of subscriber growth, rising average revenues and falling churn, delivering strong ebitda [earnings before interest, taxes, depreciation and amortization] margins of 22 per cent and growing ebitda.

"This provides evidence that we are in the execution phase of our business plan, with financing securely in place," he said.

By mid-morning shares in the company rose ten per cent (7.25p) to 79.75p. ®

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