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

  • Vince Gilligan

    'Breaking Bad' Creator Vince Gilligan Sets New Deal With Sony Pictures Television

    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 […]

  • cardi b jay-z beyonce

    Cardi B, Beyonce, Jay-Z Lead 2018 MTV VMA Nominations

    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 […]

  • San Diego Comic Con Preview 2017

    Variety Announces Comic-Con Studio and Kick-Off Party With YouTube

    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 […]

  • POSE -- "Pink Slip" -- Season

    Our Staff Picks: TV Shows to Watch the Week of July 16, 2018

    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 […]

  • COSMOS SHIP OF THE IMAGINATIONEXPERIENCE Comic-Con

    'Cosmos' to Launch VFX Viewing Dome at Comic-Con

    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 […]

  • Jenna Dewan28th Annual Environmental Media Association

    Jenna Dewan Joins 'The Resident' Season 2 in Recurring Role

    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 […]

  • Julie Chen hosts the second live

    TV Ratings: Steady 'Big Brother' Tops Sunday

    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