Home Liberty Global Q2 results boosted by Virgin Media takeover
 

Keywords :   


Liberty Global Q2 results boosted by Virgin Media takeover

2013-08-02 09:00:00| Telecompaper Headlines

(Telecompaper) Liberty Global reported second-quarter sales up 25 percent year-on-year to USD 3.16 billion. Its takeover of Virgin Media in the UK contributed around two-thirds of the increase, and the company's organic growth was 4 percent. The cable operator saw a slowdown in customer growth in the period, with 191,000 revenue-generating units added on an organic basis compared to 364,000 a year ago. This was due to a slowdown in Germany and East Europe and tough competition in the Netherlands, where it lost customers. Operating cash flow was up 21 percent to USD 1.45 billion and grew 3 percent on an organic basis, while operating profit fell 7 percent to USD 445 million, hurt by charges and increased depreciation related to the Virgin takeover. The cable operator increased capex slightly in the quarter to USD 490 million or 16 percent of revenues. Free cash flow was still up 29 percent to USD 193 million in Q2. While debt increased substantially in the quarter on the Virgin takeover, Liberty still had USD 2.1 billion in cash and said it would continue its share repurchase programme.

Tags: results media global virgin

Category:Telecommunications

Latest from this category

All news

»
01.11Eastern North Pacific Tropical Weather Outlook
01.11Atlantic Tropical Weather Outlook
01.11CERM launches new MIS products, Mark Andy innovates and more
01.11Removing a major trade barrier: Full access to Colombia restored for U.S. beef
01.11Getting more out of fall and winter grazing
01.11U.S. Boston butt burger launches in Colombia
01.11All Americans have a role in keeping African swine fever out
01.11BASF TotalEnergies Petrochemicals Receives United Way Champions of Hope Award
More »