Feeds

NTL boss Knapp quits

As Q2 losses narrow

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

NTL boss Barclay Knapp is to quit his job after claiming that his work bringing the cableco through its recent reorganisation is now complete.

Although he will step down formally on Friday, to be replaced by COO Simon Duffy, the NTL chief exec will continue working at the company until the end of the year. He will advise on strategy.

In a statement, Knapp said: "With this quarter's positive results and the favourable conditions I see ahead for NTL, I believe my mission in bringing NTL through its reorganisation has been accomplished.

"I want to again thank all of our customers, suppliers, stakeholders and most of all - our associates [that's NTL speak for employees] - for not only another quarter of great results, but also a whole decade of wonderful experiences and personal growth for me," he said.

Of course, the idea that the last decade was full of "wonderful experiences" may jar with some industry watchers following the company's recent "turbulence" such as Chapter 11 bankruptcy protection, job losses, etc.

According to a leaked Knapp memo last year: "When the telecoms markets first nose-dived back in 2000, I likened the experience to having a window blow on a jetliner at 25,000 feet."

"Although it's controllable, you have to almost crash-dive the plane to below 10,000 feet so that at least you can keep breathing. And because of the steps we've taken, even though we've flown through a heck of a lot of turbulence, we're still breathing and the plane's still in one piece. The same can't be said for some of our competitors," said Knapp.

News of Knapp's departure coincided with cableco's Q2 results to the end of June, which saw revenues slightly up on last year at £551.3 million ($886.82 million).

Net loss for the quarter ran in at £159 million ($255.77 million) - down 38 per cent compared to Q2 last year - thanks to improve profit and reduced interest payments.

NTL managed to attract a further 103,300 broadband punters over the quarter bringing the total number of high speed Net access customers to 764,200.

As of 3 August, the cableco had more than 802,000 broadband customers, the company reported today. ®

Related Story

NTL was jetliner in power dive, says leaked memo

Security for virtualized datacentres

More from The Register

next story
TEEN RAMPAGE: Kids in iPhone 6 'Will it bend' YouTube 'prank'
iPhones bent in Norwich? As if the place wasn't weird enough
Consumers agree to give up first-born child for free Wi-Fi – survey
This Herod network's ace – but crap reception in bullrushes
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
New EU digi-commish struggles with concepts of net neutrality
Oettinger all about the infrastructure – but not big on substance
PEAK IPV4? Global IPv6 traffic is growing, DDoS dying, says Akamai
First time the cache network has seen drop in use of 32-bit-wide IP addresses
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.