NTL Communications, which provides television services to Dublin, Galway and Waterford, today reported a 45 per cent rise in third quarter revenues for its Irish operations.
The company said revenues had risen to €23.9 million while EBITDA (earnings before interest, taxes, depreciation, and amortization) rose to just under €7 million, almost 100 per cent up on the same period last year.
Overall, the British cable group reported revenues of £146 million sterling a 5 per cent decrease over the prior year, and EBITDA of £56 million, a 3 per cent decrease on the same period last year.
The company said: "These results are in line with our stated intentions of conserving cash, and reducing costs and capital expenditure".
It said it remained on target to emerge from Chapter 11 bankruptcy protection. The group, which filed for US Chapter 11 in May, agreed a huge rescue plan with its bank lenders and main shareholder France Telecom in April.
NTL managing director of Ireland, Mr Graham Sutherland, said: "This has been a particularly strong performing third quarter for NTL Ireland compared with 2001."
"Our focus for quarter four will be to further develop our business service division, continue to grow our digital subscriber base and commence work on the MMDS network to provide digital services by June 2003," he added.
