Virgin Media helps push up sales at Liberty Global

7 May 2014

Multinational triple-play cable network operating group Liberty Global has reported sales of USD4.53 billion for the three months to 31 March 2014, up from USD2.67 billion in the year-ago period due largely to the inclusion of the UK operator Virgin Media as well as a positive foreign currency gains. Excluding one-off gains and foreign exchange movement, sales rose 2% year-on-year. Operating income increased 10% to USD582 million, while net loss increased from USD1 million in 1Q 2013 to USD79 million a year later, driven to a large extent by losses on derivative instruments. Western Europe contributed sales of USD3.90 billion, including USD1.73 billion from Virgin Media. The group’s businesses across eastern Europe and Latin America accounted for the remainder.

Total revenue-generating units (RGUs) numbered 48.64 million, including 21.73 million for video services (down 0.3% in the first quarter), 14.61 million for broadband (up 1.7%) and 12.30 million telephony users (up 1.5%). 41.2% of customers subscribe to a triple-play voice, video and internet service, up from 40.5% three months earlier.

United Kingdom, Liberty Global, Virgin Media