You will be redirected back to your article in seconds

Telewest core profits up 26%

Sales up 17% to $1.88 billion

LONDON — U.K. cable operator Telewest has posted stronger than expected results, with core profits up 26% to £319 million ($453 million) for the year ended Dec. 31. Sales were up 17% to $1.88 billion.

A writeoff of $1.6 billion tied largely to the acquisition its Flextech TV production biz, however, dropped the cabler to a loss of $2.75 billion for the year. Total debt by the end of the period was $7.27 billion.

Subscribership was up 4% to 1.76 million, counting TV, telephony and Internet. In the fourth quarter, broadband take-up soared 60%. It had 107,000 subscribers as of Feb. 28. Average income per sub was up 7% to $56.85 per month.

NTL, Britain’s No. 1 cabler, is in the process of restructuring its $17 billion mountain of debt, likely in a debt-for-equity swap with new creditors. Telewest maintains it does not have to follow suit. Company has enough funding in place to last for as much as another five quarters

More TV

  • Andrew Lincoln as Rick Grimes, Chandler

    'Walking Dead' Recap: Tide of War Turns in Midseason Finale (SPOILERS)

    LONDON — U.K. cable operator Telewest has posted stronger than expected results, with core profits up 26% to £319 million ($453 million) for the year ended Dec. 31. Sales were up 17% to $1.88 billion. A writeoff of $1.6 billion tied largely to the acquisition its Flextech TV production biz, however, dropped the cabler to […]

  • Jeff Glor

    Jeff Glor to Interview French President Emmanuel Macron on 'CBS Evening News'

    LONDON — U.K. cable operator Telewest has posted stronger than expected results, with core profits up 26% to £319 million ($453 million) for the year ended Dec. 31. Sales were up 17% to $1.88 billion. A writeoff of $1.6 billion tied largely to the acquisition its Flextech TV production biz, however, dropped the cabler to […]

  • SUITS -- "Full Disclosure" Episode 707

    Dubai: USA Network's Legal Drama 'Suits' Set For Arabic Adaptation (EXCLUSIVE)

    LONDON — U.K. cable operator Telewest has posted stronger than expected results, with core profits up 26% to £319 million ($453 million) for the year ended Dec. 31. Sales were up 17% to $1.88 billion. A writeoff of $1.6 billion tied largely to the acquisition its Flextech TV production biz, however, dropped the cabler to […]

  • Vanessa Kirby

    'The Crown' Star Vanessa Kirby on the 'Privilege' of Playing Princess Margaret

    LONDON — U.K. cable operator Telewest has posted stronger than expected results, with core profits up 26% to £319 million ($453 million) for the year ended Dec. 31. Sales were up 17% to $1.88 billion. A writeoff of $1.6 billion tied largely to the acquisition its Flextech TV production biz, however, dropped the cabler to […]

More From Our Brands

Access exclusive content