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
Chinese conglomerate Dalian Wanda is in talks to buy Dick Clark Productions, as the company aims to expand in to the US entertainment industry. According to reports, Dalian Wanda Group has started preliminary talks to buy Dick Clark Productions for a price of about $1 billion. Dick Clark Productions... Mortgage applications in the U.S. dropped 0.7 percent from last week. According to data from the Mortgage Bankers Association, market composite index, a measure of mortgage loan application volume, declined 0.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis,... LendUp, an online lending startup, had to pay $6.3 million in fine for charging illegal fees and miscalculating higher interest rates. LendUp, which was earlier known as Flurish Inc., is supported by Google's venture capital arm GV and other venture capital firms in Silicon Valley. The California...
comments powered by Disqus
Follow RTT