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Title: Virgin Media reports ‘best ever’ second quarter Post by: mobaholic on July 29, 2010, 11:06:50 AM Mobile revenue up 7% to £136m, 66,300 mobile contracts added Virgin Media has reported its ‘best ever’ second quarter as high spending contract customers drove mobile revenue up 7% to £136m. The company added 66,300 net new contract mobile customers during the quarter ended 30 June, while mobile revenue was up 6.9% to £136.3m as ARPU growth was driven by high spending contract customers. At the quarter-end, the company had 1,097,200 contract subscribers representing 36% of its total mobile subscribers, and growth of 40% in the last 12 months. Churn remained flat at 1.3%, while triple-play penetration increased to 62.4% and quad-play increased to 11.3%. The company said it has continued to concentrate on selling mobile services to its existing cable customer base, with 694,500 of cable customers now taking at least one mobile phone service. The number of prepay net disconnections in the quarter was 52,700, compared with 106,500 in the same quarter last year. The company said the loss of prepay subscribers reflects ‘the highly competitive market’ and its strategy of focusing on contract ‘due to the higher churn, low tariffs and lower overall lifetime value of prepay’. Total revenue was up 7.1% to £964m with growth in all areas. Neil Berkett, CEO of Virgin Media, said: ‘A growing base of customers, combined with increased ARPU and improvements in business and mobile revenues, drove strong revenue growth and a double digit year-on-year percentage increase in OCF for the third successive quarter. This performance was driven by our ability to offer households and businesses an increasingly differentiated range of digital services. Going forward, we’ll continue to differentiate our propositions by proactively exploiting the advantages of our network and our mobile capability.’ See:- here (http://www.mobiletoday.co.uk/Dealer/Virgin_Media_reports_‘best_ever’_second_quarter.aspx). |