Telewest claims 300,000 broadband punters…

...but makes a £2.2 billion loss

By Tim Richardson • Get more from this author

Posted in Telecoms, 27th March 2003 15:23 GMT

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Telewest has almost 300,000 broadband customers, it boasted today.

Publishing its full year results, the cableco said that it had 297,000 broadband users, with 31,000 of those signed up to its 1Mbps service.

No doubt Telewest is keen to plug this good news story and the fact that it is to begin trials of a new 2Mbps broadband service.

Predictably, though, many of today's headlines have focused on the cableco's announcement that it made a loss of £2.2 billion for the year, which included and "exceptional non-cash charge" of £1.64 billion for the devaluation of some of its assets.

Turnover for the year was up a smidgen at £1.3 billion.

Zeroing-in on its Internet operation, Telewest reported that revenues from this had increased by 98 per cent to £79 million in 2002, due mainly to the growth in broadband subscribers. Of which it now has nearly 300,000.

The company also claims that its broadband product is helping to attract new customers for other services, including digital TV and telecoms. ®

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