Feeds

Telewest cuts losses

Half a million broadband customers..

  • alert
  • submit to reddit

The Essential Guide to IT Transformation

Telewest reduced net losses for the first three months of the year to £36m, from £187m lost in the first quarter of 2003. Q1 turnover was up £9m to £344m compared to the three months ended 31 March 2003.

The company claimed its highest ever average revenue per user of £45.05 a month or £541 a year. Household churn is less than one per cent a month and Telewest claims 18.9 per cent of customers enjoy "triple play penetration" - less rude than it sounds this refers to customers with phone, television and Internet services.

Telewest is just short of half a million broadband customers, with 498,000 installed as of 12 May 2004. It added an extra 50,000 accounts in the first quarter.

Chad Raube, director of Internet services at Telewest, said: "We're still number one for broadband within our franchise areas ...We announced at the end of April that we'd be boosting the bandwidth of our services, for the same price, and I'm pleased to say we've now completed the upgrades in double quick time."

Telewest is currently in default on parts of its £5.4bn debt mountain. The company is restructuring and carrying out a debt-for shares swap to sort this out. It will meet with creditors on 1 June. As part of the financial restructuring Telewest shares will move from the London Stock Exchange to Nasdaq. ®

Related stories

Telewest boosts broadband speeds
Telewest dubs broadband most successful product
Telewest unveils capped 256k Net access

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.