Virgin Media posts record revenue in 2010

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Mobile, broadband and business division all contribute to company’s £3.8 billion revenue

Virgin Media’s revenues went up 5.8 per cent to £3.8 billion and topped £1 billion in the fourth quarter thanks in part to 72.5 per cent growth to £1.2 million in its mobile division.

Total revenue from mobile went up by 6.7 per cent in the fourth quarter to £148.3 per cent.

Virgin also signed up 44,100 extra customers to its broadband service in the fourth quarter, upping its total broadband subscriber base to 4.29 million across the UK, 780,000 of which use its 20MB or 50MB service.

Virgin’s business division which was relaunched as Virgin Media Business a year ago increased its revenues by 2.8 per cent for the year and was up 4.7 per cent in the fourth quarter year-on-year.

The revenue increase in the business division was according to Virgin, down to a deal with the London Grid for Learning – a consortium of all 33 London local authorities, to power a new public sector to transform the delivery of public services in and around London.

Virgin Media chief executive Neil Berkett said: “A strong financial performance combined with the launch of a number of market leading product developments ensured 2010 was a year of great achievement for Virgin Media.

“We have driven our consumer division to its highest ever rate of revenue growth, maintained robust cost control and delivered our best ever financial year.

“The significant strides forward in our Mobile and Business operations contributed to this substantial result.”

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