logo
Share SHARE
FONT-SIZE Plus   Neg

Virgin Media Posts Higher Q1 Profit - Quick Facts

Virgin Media Inc. (VMED: Quote, 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

Editors Pick
Apple will unveil its Apple Watch with a battery that may last only 2.5 to 4 hours on very active use, according to a report in 9to5mac. "People with knowledge of the Apple Watch's development have provided us with the specific performance targets Apple wants to achieve for the Apple Watch battery,... HARMAN International Industries, Inc. (HAR) announced it has signed an agreement with Symphony Technology Group to acquire Symphony Teleca, a privately-held global software services company. Check out this story for a look at some of We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015.
comments powered by Disqus
Follow RTT