Virgin Media 4Q results impress; will introduce 100Mbps broadband by end-2010

26 Feb 2010

British cableco Virgin Media has revealed that a better-than-expected increase in the number of subscribers allowed it to improve on forecasts for its final fiscal quarter of 2009. For the three months ended 31 December 2009 Virgin posted revenues of GBP979.5 million (USD1.49 billion), up 3.3% against the same quarter a year earlier. Revenue from the company’s fixed line cable operations, which include voice, pay-TV and high speed internet, accounted for 65.3% of the total, while mobile voice services generated GBP139 million in 4Q 2009, contributing 14.1%.

As at end-December 2009 Virgin had a total of 3.84 million customers signed up to its high speed cable broadband, while a further 265,000 had taken ADSL-based internet services; its total broadband subscriber base rose 4.2% against the same period a year earlier. The cableco noted that 98% of its cable-based subscribers had opted for services offering download speeds of at least 10Mbps, while those taking either 20Mbps or 50Mbps had risen 45% over the year to end-2009. Virgin also revealed that it plans to start offering 100Mbps downlink speeds by the end of 2010. In terms of fixed line voice meanwhile, at the end of 2009 Virgin had a total of 4.29 million subscribers (up 1.9%), while at that date post-paid mobile customers reached 949,700, an increase of 46.2% year-on-year.

United Kingdom, Virgin Media