NTL Ireland today announced a 14% increase in third quarter revenue to £17.9m from £15.7m in the same period last year. Revenue grew due to the increased sales of premium services to existing customers, a price increase in January and an increase in business sector revenues.
The increases were partly offset by a reduction in revenues resulting from the disconnection of some customers due to NTL's more strict credit policy. This policy has now been fully implemented.
For the three months ended September 30 2003, NTL Ireland profit increased by 66.7% to £7.5m from £4.5m for the same period in 2002.
This increase was primarily due to revenue growth together with a reduction in the bad debt charge as a result of the more rigorous enforcement of credit policy. NTL also made significant savings when they renegotiated their contract with IBM for outsourced IT services in Ireland.
NTL Ireland ended the quarter with approximately 346,200 residential customers. Digital television customers grew by 6,300 to 59,600.
Average revenue per user in Ireland increased approximately 14.9% from last year to £14.5 in the third quarter of 2003 from £12.31 in the third quarter last year.
The NTL group, which is listed in the US and headquartered in the UK , grew overall revenue by 3.8% to £555.2m in the third quarter. For the three months ended September 30 2003 combined segment profit increased by 23% to £201.4m.
