NTL losses reduced by sharp rise in new subscriptions
# May 5, 02:47 PM by Mick
NTL losses have been reduced by a sharp rise in new subscriptions over the last quarter. Net loss narrowed more than 60% to £65.4m for the first quarter of 2004.
The sharp rise in new subscriptions, up by 61,500 has helped ntl reduce its net losses together with last months debt restructuring which has reduced its bank debt interest costs by 37%.
Turnover is up by 7% to £585m putting ntl operating profits into the black for the first time. This is a large U-turn of events as it was only last year ntl was under bankruptcy protection.