Telewest Communications plc has released its preliminary results for the year ending 31 December 1996. Following increases across the board in cable TV, residential telephony and business telephony, total revenue was up 52% to £290.3 million last year. Net losses reached £250.9 million, but this was in line with expectations.
Commenting on the results, Stephen Davidson, chief executive of Telewest, said: “I am very pleased with our strong fourth quarter results in cable television and with earnings before interest, tax, depreciation and amortisation being positive for the first time over a full year, this highlights a new phase for Telewest. The construction programme is 65% complete and we are continuing to improve our service and offerings to existing and potential customers.
The company will be launching a series of digital services towards the end of this year, including an expanded range of TV channels, high speed Internet access and ‘near video on demand’. In addition, Telewest customers will be able to access digital services on satellite and terrestrial networks.
Telewest: 01483 750 900
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