UK cable operator, NTL, has increased its earnings by 48.2% to £661 million in 2002, after finally emerging from its Chapter 11 bankruptcy process.
Reporting the full year results, NTL says that churn – the proportion of people leaving the home cable service – declined from 21.3% in Q4 2001 to 15.9% in Q4 2002. The group says that this is a result of improvements in product and customer service. Average revenue per user (ARPU) increased slightly from Q4 2001’s £40.69 to £40.99 in Q4 2002.
Posting the results today, CEO Barclay Knapp said: “We are very pleased to report that these positive trends will lead to significant net growth in new customer additions in Q1 2003.”
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