Virgin Media has forecasts the fourth quarter results as it saw an increase in the share value. It has risen due to hefty business done in the area of consumer Internet, pay-television and mobile services.
It also came up with a surprise to offer a100 megabits per second on its broadband service in this year. At 1038 GMT, Virgin Media shares were up 7.3% at 1060p, valuing the company at GBP3.49 billion.
Virgin Media, whose operation solely lies in the U.K., said operating cash flow before amortization and exceptional items rose 15.3% to GBP366 million in the fourth quarter ended Dec. 31 from a restated GBP317.6 million last year. As calculated the group has added 63,600 customers in its kitty up from 57,100 in the same quarter last year. The TV user base additions fell to 34,200 from 44,500 customers an effect caused due to
For broadband services, the group added, up from in the same quarter last year and also beating expectations for 46,000 additions switch over from analogue to digital services, but the group expects this figure to return to year-on-year growth. According to the spokesperson from Virgin media said, “”New and existing customers responded to an increasingly differentiated product portfolio and competitively priced bundles by buying more, higher value products”.