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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.

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