Revenues at debt-laden cable company, NTL, remained pretty flat in the second quarter of the year, dropping slightly by just 1.1% to £627 million, according to the company’s financial results released today. Earnings rose by 51.3% to £174 million over the period.
These results are posted against a backdrop of debt and impending recapitalisation which the company is hoping to complete this autumn (see
NTL Rescue Plans Revealed). The US Court will hold the hearing to consider NTL’s Chapter 11 reorganisation plans; if confirmed, the company expects to emerge from Chapter 11 shortly afterwards.
NTL says it is adopting a ‘business as usual’ approach with customers and suppliers during this period. Revenues from the NTL Home division were down by 0.9% at £334 million, whilst business revenues rose by 6.5% to £148 million.
