Weak dollar boosts LGI results

6 Aug 2008

The US-based international cable operator Liberty Global Inc (LGI) has reported a 25% increase in second quarter sales to USD2.73 billion. The firm says the figure was positively impacted by the weakening of the US dollar against currencies in its overseas markets, while organic subscriber growth also contributed. LGI reversed a net loss of USD130 million in Q2 2007, posting a profit of USD428 million in the same period this year. President and CEO Mike Fries said, ‘Our results reflect a number of positive trends but also the continuation of certain operational challenges, particularly in some of our European markets.’ At the end of June LGI had 16.1 million customers subscribing to 24.7 million total services. This included 5.7 million broadband internet subscriptions and 4.3 million telephony accounts. LGI operates cable networks in markets in Europe, Asia and Latin America.

Liberty Global