Nynex announced its results for the nine months ending September 30 1996 at its “Marriage of the Year” conference this morning. Total revenue increased by 91% £109m (£57m last year). Net profit loss was down from £58m last year to £46m.
Nynex telephony service saw substantial increases with 66% of its revenue coming from this area compared to 58% last year. An increase of 3% in its business telephony is seen as a particular area to concentrate on. Only 34% of revenue came from its cable services compared to 42% last year. As Killian pointed out, last years increase in the cable area has left a smaller target audience.
Nynex revealed its new “marriage” packages which mixes various cable packages with telephony services at discount prices. The services include MiniView, SportsView, MovieView, PrimeView and SuperView. Killian said that Nynex was particularly confident in its sports and movie packages as these were popular with consumers. He also said that Nynex’s increase in telephony revenue indicated that the integration of telephony with these packages were likely to be successful.
The results coincide with reports of a merger between Nynex and Cable and Wireless.
Nynex: 0181 873 2000
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