Menu
01/03/2002
Quarterly report reveals Telewest's mixed results
Telewest Communications' quarterly results have revealed that the company's net debt is continuing to rise, and has edged over £5 billion for the quarter.
This is in spite of a 17 per cent sales rise to £1.32 billion, which far exceeded even the most optimistic predictions.
The UK cable operator, however, quickly moved to reassure shareholders that the results were stronger than expected. The company also stressed that, as operating costs had continued to fall, its improved liquidity would redress the debt balance to a more acceptable level.
The capital expenditure outlay for the company was slashed to under £550 million – or £50 million under its target figure. However, results for the year indicated that Telewest had £801 million in undrawn, committed bank facilities and £14 million in cash at the end of 2001. The company estimates that these assets offer a life-span of five quarters at current spending rates.
On a more positive note, the company revealed that it had added 107,000 broadband Internet users to its client base by the end of February. However, analysts are speculating that the take-up rate for the new technology may evaporate after initial interest had waned.
Earnings before interest, tax, depreciation and amortisation for the year to the end of December rose 26 per cent year-on-year to £319 million, which was ahead of the £290 million to £300 million range analysts had been expecting.
The market responded well to the results and, after an all-time low on Thursday, shares were up more than 15 per cent at 20.5p on Friday.
Telewest Communications, the broadband communications and media group, currently provides multi-channel television, telephone and Internet services to more than 1.7 million UK households.
Telewest was rated the top-scoring Internet Service Provider by readers in the recent Internet magazine survey of UK internet service providers.
(GMcG)
This is in spite of a 17 per cent sales rise to £1.32 billion, which far exceeded even the most optimistic predictions.
The UK cable operator, however, quickly moved to reassure shareholders that the results were stronger than expected. The company also stressed that, as operating costs had continued to fall, its improved liquidity would redress the debt balance to a more acceptable level.
The capital expenditure outlay for the company was slashed to under £550 million – or £50 million under its target figure. However, results for the year indicated that Telewest had £801 million in undrawn, committed bank facilities and £14 million in cash at the end of 2001. The company estimates that these assets offer a life-span of five quarters at current spending rates.
On a more positive note, the company revealed that it had added 107,000 broadband Internet users to its client base by the end of February. However, analysts are speculating that the take-up rate for the new technology may evaporate after initial interest had waned.
Earnings before interest, tax, depreciation and amortisation for the year to the end of December rose 26 per cent year-on-year to £319 million, which was ahead of the £290 million to £300 million range analysts had been expecting.
The market responded well to the results and, after an all-time low on Thursday, shares were up more than 15 per cent at 20.5p on Friday.
Telewest Communications, the broadband communications and media group, currently provides multi-channel television, telephone and Internet services to more than 1.7 million UK households.
Telewest was rated the top-scoring Internet Service Provider by readers in the recent Internet magazine survey of UK internet service providers.
(GMcG)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
21 February 2002
Oftel urges BT to cut internet costs
Telecommunications regulator Oftel has recommended that BT slash their costs for unmetered Internet access. Oftel wants BT to cut the amount it charges Internet service providers to use their existing telephone network by seven per cent.
Oftel urges BT to cut internet costs
Telecommunications regulator Oftel has recommended that BT slash their costs for unmetered Internet access. Oftel wants BT to cut the amount it charges Internet service providers to use their existing telephone network by seven per cent.
25 July 2001
BSkyB announces half billion losses despite subscriber increase
British Sky Broadcasting (BSkyB) have announced their results for the year ended June 30 2001. The company reported strong growth in digital subscribers to 5.
BSkyB announces half billion losses despite subscriber increase
British Sky Broadcasting (BSkyB) have announced their results for the year ended June 30 2001. The company reported strong growth in digital subscribers to 5.
02 November 2009
Ryanair See Soaring Profits Rise 80%
Budget airline Ryanair has revealed a rise in first-half profits by 80% for the year. Releasing the figures today, the company said its first half results were so strong it could reverse its long-standing strategy of rapid growth and instead distribute cash to shareholders.
Ryanair See Soaring Profits Rise 80%
Budget airline Ryanair has revealed a rise in first-half profits by 80% for the year. Releasing the figures today, the company said its first half results were so strong it could reverse its long-standing strategy of rapid growth and instead distribute cash to shareholders.
22 August 2001
Over two hundred jobs axed at Baltimore Technologies
Dublin based Internet security firm Baltimore Technologies has announced that over 200 jobs will be axed in light of its troubling half-year results. Announcing the results for 2001 on Wednesday, the company said total revenues were £39.4 million sterling, with losses before interest tax depreciation, amortisation and exceptional items of £41.
Over two hundred jobs axed at Baltimore Technologies
Dublin based Internet security firm Baltimore Technologies has announced that over 200 jobs will be axed in light of its troubling half-year results. Announcing the results for 2001 on Wednesday, the company said total revenues were £39.4 million sterling, with losses before interest tax depreciation, amortisation and exceptional items of £41.
26 November 2001
Consignia’s pre-tax losses climb to £100 million
Consignia has announced a half-year operating loss of £100 million before tax and exceptional items. This compares to a loss of £20 million for the same period a year ago, and after accounting for exceptional items, the post-tax loss for the half-year is £281 million, compared with a £113 million loss for the previous half year.
Consignia’s pre-tax losses climb to £100 million
Consignia has announced a half-year operating loss of £100 million before tax and exceptional items. This compares to a loss of £20 million for the same period a year ago, and after accounting for exceptional items, the post-tax loss for the half-year is £281 million, compared with a £113 million loss for the previous half year.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
