[denphone]

http://www.marketwatch.com/story/vir...lts-2012-04-25

Virgin Media reveal First Quarter 2012 Results.

-- Revenue up 2.4% to GBP 1.0bn

-- OCF(1) flat at GBP 376m in line with guidance, reflecting phasing of marketing spend -- Operating income up 18% to GBP 131m

-- Net income of GBP 7m, up by GBP 4m

-- FCF(2) down 13% to GBP 87m in line with guidance, reflecting flat OCF and increased capex -- Net cash provided by operating activities down 22% to GBP 212m

Multiple sources of high quality revenue growth

-- Net cable customer additions of 21,200 reflecting improved churn -- gross disconnects down 3,500

-- Cable ARPU up 1.7% to GBP 46.95

-- TiVo customer base increased by 242,000 to 677,100; 18% of the TV base -- 50,600 increase in the paying TV base(3) in the quarter

-- Superfast broadband base (30Mb and above) increased by 146,700 to 843,600; 20% of the cable broadband base

-- Mobile revenue up 1.2% to GBP 139m, with contract mobile revenue up 15% to GBP 100m -- Quad-play penetration continues to grow; now at 15%

-- Business division revenue up 7.1% to GBP 170m