Virgin Media Inc (VMED: Quote,VMED.L) Tuesday released the financial results for the second quarter and first half ended 30 June, 2012, reporting a sharp rise in total revenues for the second quarter, led by higher growth in both the consumer and business segments.
The company reported a 4.2 percent increase In Total Revenue for the second quarter of 2012 at 1.027 billion pounds, compared with 986.8 million pounds reported for the corresponding second quarter of 2011. For the first half, total revenues increased 3.3 percent to 2.033 billion pounds from 1.968 billion pounds reported for the first half of 2011.
Net income for the second quarter, however, declined to 64.7 million pounds from 98.2 million pounds reported for the corresponding period last year, mainly due to the fact that net income in the second quarter last year benefited from a 77.6 million pounds VAT refund, partially offset by increased operating income.
Basic earnings per share for the second quarter declined to 0.23 pounds from 0.31 pounds per share reported for the same quarter last year.
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by RTT Staff Writer
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