Feeds

Virgin Media survives World Cup, buys back shares

Back of the net

Combat fraud and increase customer satisfaction

Did the World Cup bring any sunshine to Virgin Media? The company today announced profits of £80m on increased turnover of £964m in its most recent quarter. But long-suffering shareholders take precedence over customers - Virgin will spend £375m buying back shares. Buy-backs usually have the goal of raising the share price.

Virgin also gave itself the target that debt should be reduced to three times its annual operating cashflow "within two to three years". NTL, having absorbed its only cable rival, acquired Virgin Mobile four years ago.

Average revenue per cable user rose to £45.88, the highest ARPU figure yet. Virgin also claimed 9,100 new cable customers, compared to 27,800 in the same period a year ago - although the World Cup must have helped - with gross additions of 188,000, up 18 per cent.

Virgin has had some success in upgrading broadband users to the 50Mbit/s tier - it says 74,000 customers are now on the high-speed service, up 28 per cent in three months.

Virgin says that 79.7 per cent of TV users are also HD+ subscribers, and 62.4 per cent opt for a triple-play bundle of TV, phone and broadband. The financials include Virgin's Mobile business, which saw £136.3m of revenue. Here Virgin is focusing on attracting contract customers - it now has over a million of them - rather than prepay users.

Virgin offloaded its VMtv channels this month to Sky this month, worth an initial £112m; but it retains a stake in UKTV, home to repeats channels Dave and Gold. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.