Virgin Media has announced that its fourth quarter earnings before interest, tax, depreciation and amortization, increased by 2.6% to £321 million from £313 million.
The cable company also revealed that its revenue fell by 2.9% to £1.05 billion from £1.08 billion year-on-year.
However, it added 24,000 net cable customers in Q4 2007, while churn dropped to 1.4% from 1.7% in the previous quarter.
It also saw its saw broadband subscriber net additions grow by 15.6% to 111,200 from 96,100.
Neil Berkett, acting chief executive officer of Virgin Media, said: “Our fourth quarter results represent our best operational performance since the cable merger in early 2006. They demonstrate that our customers are responding positively to a compelling consumer proposition combined with the strength of the Virgin brand.
“We are achieving good results from our stated strategy of exploiting our superior network capability to drive broadband growth and deliver the next generation of personalized on-demand content, as well as focusing on reducing churn.
“With a strong brand, superior products, and improving service and operations, we believe we are well placed for continued growth and cash flow generation.”
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