Sales were $2.1 billion in first quarter
LONDON — Nasdaq-quoted U.K. cable giant Virgin Media added 36,800 net TV subscribers in the first quarter of 2008 bringing the total to 3.51 million.CEO Neil Berkett hailed the period as “another solid operation performance.” “In particular, churn continued to decline, reflecting the emphasis that we have placed on this area,” he said. “Our results demonstrate that our customers are continuing to respond positively to our compelling consumer propositions. “We remain focused on leading in next generation broadband and redefining the TV experience through on-demand.” Posting an operating loss of £5 million ($9.75 million), compared with a loss of $29.25 million during the same quarter a year earlier, Virgin Media’s sales were $2.106 billion, down slightly on the 2007 figure of $1.989 billion. The company reported 88,400 net additions to its broadband service, bringing the total to 3.78 million. Virgin said it achieved record “triple-play” penetration of 51.3%. This refers to customers who take three of the four products sold by the outfit — cable TV, fixed and mobile telephone, and broadband. ARPU (average revenue per unit) fell slightly, from $83.36 in 2007 to $81.72 this year.
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