UPC Ireland releases Q1 financials

7 May 2009

UPC Ireland (Chorus and NTL), the Irish TV, broadband, and telephone services provider owned by US-based Liberty Global Inc, has posted its financial results for the first quarter of 2009. Revenue in the Republic reached USD79.8 million in the first three months of this year, down around 10% from USD88.4 million in the corresponding period of 2008, it said. However, when factoring in the impact of euro-dollar exchange rate fluctuations, UPC Ireland actually experienced a 3.7% rise in 1Q revenues to EUR61.1 million. As at 31 March 2009 UPC Ireland reported 111,400 broadband internet subscribers on its books, up from 102,000 at the start of the year and 86,500 in March 2008, while voice telephony subscribers jumped from around 15,000 a year ago to 34,800. Meanwhile, digital TV subscribers reached a total of 319,900 up around 1% from the year-ago quarter.

Last month, CommsUpdate reported that UPC Ireland plans to roll out a 120Mbps broadband network in the Republic over the next year, under a project code-named Fibre Power. UPC is investing EUR90 million in 2009 to upgrade its networks, which it says will pave the way for a migration to a DOCSIS 3.0 cable platform.

Ireland, Virgin Media Ireland