logo
Share SHARE
FONT-SIZE Plus   Neg

Virgin Media Posts Higher Q1 Profit - Quick Facts

Virgin Media Inc. (VMED, VMED.L) reported a significant rise in its first-quarter net income to 7.0 million pounds from 3.3 million pounds in the prior-year quarter, chiefly due to higher operating income, increased gain on derivative instruments, reduced amortization expense and reduced interest expense, partially offset by increased loss on extinguishment of debt.

On a per share basis, quarterly earnings were 0.02 pounds per share, higher than 0.01 pounds per share a year earlier.

Revenue was up 2.4% to 1.01 billion pounds from last year's 982.3 million pounds.

Based on the share price as of April 24, 2012, 25% of the company's sharecount in mid-2010 is expected to have been repurchased by the end of 2012, assuming the full board authority is used in 2012. Also, Virgin Media remains on track to achieve its long-term net leverage, Net Debt to OCF6, target of about 3.0x by mid-2013, as announced earlier.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
GoPro has just launched a facile camera, its smallest and lightest yet, as the action-camera sports maker seeks to further entice its adventure-seeking consumers. Oreo, the popular two chocolate wafers with a sweet crème filling in between has now got a new look. With about half the width of the regular Oreo, the new Oreo Thins will be thinner and slightly reduced in calorie. It will be available from July 13 with no change in its cookie taste and price tag. The Justice Department has initiated a probe to find out if airlines are colluding to limit seating capacity in order to benefit from higher airfares.
comments powered by Disqus
Follow RTT