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NTL has increased revenues for the first three months of the year after signing up more than 360,000 new broadband punters.

The increase in high-speed Net users takes the total number of NTL broadband users to 1.03m. Overall, the cable TV, telephone and Internet company has 2.9m customers - up 7.7 per cent compared to Q1 2003, the company said today.

As a result, Q1 revenues increased by 7 per cent to £585m from £546.5m last year. And for the first time in the company's history, NTL achieved break-even operating income of £2.2m, compared to a £54.1m operating loss in Q1 2003. Net loss fell by 62.6 per cent to £65.4m compared with a net loss of £174.7m for the same period in 2003.

"The reduction in net loss is largely attributable to our improved operating performance and a decrease in interest expense associated with the completion of the balance sheet restructuring initiatives," the company said.

In April NTL confirmed plans to shut ten call centres with the loss of 1,500 jobs. It also announced a series of price rises for its services. ®

Related stories

NTL confirms price hike
Union blasts NTL job cuts
NTL axes 1500 jobs
NTL to supercharge broadband speed

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