Virgin Media has announced operating income of £47m for the third quarter of 2007, up from £3m in the second quarter.
However, the results show that the group’s operating income experienced a year on year loss of £9.6m.
Virgin Media’s total revenue was £1bn, up from £995m in Q2, although down slightly year on year.
The company lost its chief executive Steve Burch in August when he stepped down citing family and personal reasons, with Neil Berkett, Virgin Media’s chief operating officer becoming acting chief executive (see Steve Burch Steps Down As Virgin Media CEO).
Consumer cable revenue was down to £607.7m, from £619.3m in Q2, whilst business cable revenue rose to £160m from £155.8m in the second quarter.
Mobile revenues hit £158.7m, up from £146.3m in Q2, whilst content revenues reached £79.8, from £73.6m in Q2.
The cable giant also announced a significant improvement in customer growth with 13,000 on-net customer net additions, up from -70,300 in Q2.
Berkett said: “Our third quarter results show a significant turnaround in customer and RGU growth with our best customer, broadband and telephony growth since the3 cable merger in March 2006.
“With the cable merger integration expected to be complete by year end, we can focus on continuing to improve the fundamentals, enhancing our products, reducing our churn, and delivering on our competitive strengths.”
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