Telenet, Belgium’s second largest broadband operator by subscribers, has released its financial results for the three months ended 31 March 2010, posting revenues of EUR316.9 million (USD422.8 million), an 11% year-on-year increase. Consolidated revenue growth was aided by increases in turnover from both Telenet’s broadband and telephony units, with the former reporting that, on the back of 125,000 net new subscribers revenue had risen to EUR106 million, up 11% against 1Q09. Residential telephony revenue meanwhile was up 14% y-o-y at EUR60.6 million, which the cableco attributed to a growing contribution from its mobile business, while noting that it was no longer suffering from the adverse impact of lower fixed termination rates imposed by the regulator early last year. Telenet also posted a strong rise in net profit, up 54% against 1Q 09 at EUR13.3 million, although this was below market expectations.
At the end of March 2010 Telenet had a broadband subscriber base of 1.15 million, while its fixed line and mobile telephony customer numbers had risen to 763,000 and 152,000 respectively. The operator also revealed that of its total subscriber base 673,000 customers had signed up to its triple-play bundles.