Virgin Media first quarter results show revenue up 2.4% to £1.0bn with operating income up 18% to £131m and net income of £7m, up by £4m.
FCF2 was down 13% to £87m in line with guidance, reflecting flat OCF and increased capex. Net cash provided by operating activities was down 22% to £212m.
Neil Berkett, Chief Executive Officer of Virgin Media, said: "In the first quarter of 2012, we've made steady progress against our strategy. Demand for superfast broadband and TiVo, the UK's first mass-market connected TV service, continued to gather momentum.
"We once again demonstrated the unique power of our network by starting to double the broadband speeds of over four million customers. We have seen an increase in ARPU and greater customer loyalty with our best subscriber retention for two years."
At 9:24am: (LON:VMED) share price was +14.5p at 1488.5p
SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. All share prices are provided by the London Stock Exchange, and are at least 15 minutes delayed.