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Virgin Media UK revenues up by 3.7pc to £1.08 billion

James Pearce
August 5, 2015

Q2 revenues in UK and Ireland up from £1.12 billion to £1.14 billion as mobile base grew by 7,000 in quarter

Virgin Media saw its UK revenues grow by 3.7 per cent to £1.08 billion for the three months ending June 30 compared with the same quarter in 2014, it has announced.

It’s mobile base grew by 7,000 between the end of March and June 30, an improvement on the previous quarter where it saw it lost 45,700 net mobile customers.

ARPU across its entire UK base, made up of just over five million customers, £49.49, up from £49.27 in the previous year.

It reported 19,000 more services had been taken up overall during the quarter compared with a year earlier, with another 8,000 broadband customers joining.

Virgin added a net 106,000 customers during the three months, but TV subscribers for the quad-play firm fell by 19,400.

The Group said 40 per cent of its base is now taking its ultrafast broadband speeds of 100mbps or more, having doubled year-on-year.

CEO Mike Fries commented: “Subscriber additions and OCF growth each accelerated in Q2, with most of our markets delivering improved sequential performance as compared to Q1. Strong demand for our triple- and quad-play bundles continues to support our results despite difficulties in the Netherlands, which continued to face competitive and integration challenges.

“We have taken measures to improve our results in that market and our H2 OCF growth should benefit from the positive impact of Ziggo synergies. Despite the headwinds in the Netherlands, we are confirming all of our 2015 guidance targets.”

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