Continuing Liberty operations register 2% revenue growth

8 Nov 2018

European cable group Liberty Global has recorded revenue of USD2.96 billion for the three months to 30 September 2018 for its continuing operations – i.e. excluding its subsidiaries in Germany, Hungary, Romania and the Czech Republic which the company has agreed to sell to Vodafone and are listed as discontinued, and its Austrian unit, the sale of which it completed in July – representing rebased growth of 1.9% year-on-year. Operating cash flow (OCF) for its continuing operations, meanwhile, was USD1.29 billion, up 5.2% y-o-y (rebased). Net earnings for the period attributable to shareholders was up to USD974 million from a loss of USD805 million in Q3 2017. In operational terms, the group’s continuing operations counted a total of 26.096 million RGUs – up 16,800 from June 2018 – as growth in the UK market offset RGU loss at its Swiss and Belgian divisions. Net additions of some 54,600 new telephony subscriptions and 36,400 broadband accesses in Britain drove a net increase of 104,000 RGUs quarter-on-quarter in the UK, mitigating net RGU losses of 69,900 in Belgium and 38,500 in Switzerland.

United Kingdom, Liberty Global (incl. LGI)