[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Wednesday, 5 May, 2004, 12:05 GMT 13:05 UK
NTL losses cut by new subscribers
NTL dish
A sharp rise in subscriber numbers - up 61,500 - has helped leading UK cable company NTL reduce its net losses.

The TV and telephone line provider's net loss narrowed more than 60% to £65.4m during the first quarter of 2004.

A 37% reduction in interest costs following last month's debt restructuring also contributed to the stronger financial performance.

A 7% rise in turnover to £585m helped lift NTL's operating profits into the black for the first time.

NTL reported £2.2m operating profits for the quarter, up from an operating loss of £54.1m during the same period last year.

It is a dramatic turn-around from last year when NTL was under bankruptcy protection following a default on the massive loans it had amassed during the 1990s telecom and internet boom.


SEE ALSO:
Cable broadband just got faster
26 Apr 04  |  Technology
Cable firm NTL to cut 1,500 staff
07 Apr 04  |  Business
NTL to slash employee headcount
21 Nov 03  |  Business
NTL boss steps down
12 Aug 03  |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific