Virgin Media says added net 4,900 customers in first quarter

Reuters - Thursday, May 8 08:27 am

LONDON (Reuters) - Cable operator Virgin Media added a net 4,900 new customers for its services in the first quarter and said better customer retention and stabilising revenue per customer left it positioned for growth.

"Our first-quarter results represent another solid operational performance. In particular, churn continued to decline, reflecting the emphasis that we have placed on this area," Chief Executive Neil Berkett said in a statement on Thursday.

"Our results demonstrate that our customers are continuing to respond positively to our compelling consumer propositions. We remain focused on leading in next-generation broadband and redefining the TV experience through on-demand," he said.

"With our focus on customer value, reducing churn and stabilizing ARPU, we are well positioned for growth."

Virgin Media said it had 36,800 net new additions to its television service, 88,400 net new additions to its broadband offering and added 29,000 customers to the telephony service. These additions were mostly existing customers buying extra services.

Churn, or the percentage of people dropping their subscription, was 1.2 percent a month.

Operating income before depreciation, amortization and other charges was 324.2 million pounds in the three months to the end of March, on revenue of 1.0 billion.

Its operating loss fell to 4.6 million pounds from 15.3 million in 2007.

(Reporting by Kate Holton and Dan Lalor; Editing by David Holmes)

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