Telewest release Q1 2005 financial results
# May 12, 08:48 PM by Mick
Telewest announces first quarter financial results for 2005. Operating income increased 26% over Q1 2004. Broadband additions for Q1 2005 were 88,000, with most of the additions being Telewest’s lowest speed tier, where Telewest have increased connection speeds from 256Kb to 512Kb.
Telewest state that their Broadband service continues to be successful in attracting new customers to Telewest, 41% of broadband installations were for customers who were not existing customers.
From July 1, 2005, Telewest will be increasing the price of their two lowest digital TV tiers by £1 each. The price of the “Starter” tier will increase to £5.50 per month and the “Essential” tier will increase to £10.50 per month.
Telewest launched their VOD services in Bristol in the first quarter and the next stage of the roll-out is scheduled for early July to 26,000 subscribers in Cheltenham. Telewest state they plan to complete the national roll-out of VOD by early 2006. They will also continue to work on their plans for the launch of DVR (Digital Video Recorder) services later in the year.
Barry Elson, Acting Chief Executive Officer of Telewest, commented:
“Telewest continues to build on its strong performance and we are encouraged by the operational and financial trends in our consumer and content businesses. In particular, we have seen increased triple play penetration and ARPU and reduced churn and our customer growth and RGU growth is higher than the corresponding quarter last year. Our roll-out plans for DVR and VOD are progressing and we are optimistic that these products will add to our competitiveness and increase loyalty as we strive to provide the best service and product suite for our customers.”