Cable company Telewest Communications released its 3rd Quarter Results today. The results show that it has now achieved 34.2% household penetration, an increase of 1.7% on Q3 1996. Turnover has increased by 36.3% year on year to £282m, and the company has now claimed over one million customers.
Residential telephony and cable television penetration have improved from 26.8% to 29.3% and from 21.2% to 22.0% respectively. Cable TV churn is down 4.1% to 32.1% and residential telephony churn is down 0.6% to 19.4%. Telewest sees loss of average revenue per line for business telephony which drops 15.8%; this despite a 56.3% increase in business lines.
Overall Telewest made a loss for the financial period of £225m. The same quarter last year saw losses of £176m. However, earnings before interest, taxes, depreciation and amortisation were up from a loss of £5.56m for Q3 1996 to earnings of £32.2m this quarter.
Telewest c/o Dowe Rogerson: 0171 638 9571
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