Virgin Media 2Q profits fall on dip in customer base

9 Aug 2007

UK-based cableco Virgin Media has announced a 40% decline in its second-quarter profits due to a significant downturn in its net customers. Virgin Media, which has been engaged in a dispute with rival BSkyB, said its net profits in the three months ended 30 June plummeted to GBP119 million (USD238 million), from GBP195.8 million in the year-ago quarter. The company’s cable and broadband customer base contracted by 70,300 to 4.7 million at the end of June. Around half the loss was related to the dispute with BSkyB, which saw the satellite broadcaster withdraw its basic channels from Virgin Media’s platform. Virgin Media revenues rose to GBP995 million in the second quarter, from GBP884.3 million in the same period a year earlier.

United Kingdom, Virgin Media