Weather Afternoon: 10°c Sunny spells Tonight: 4°c Partly Cloudy Night

Business

Subscribers flock to sign up with Virgin Media

5 May 2009


Virgin Media is still recruiting new subscribers, getting them to sign up for more than one service and managing to cut down the number of people who switch to rivals.

"The Virgin Media brand sits firmly in the value for money rather than cheap category," said chief executive Neil Berkett. "And while I wouldn't want to be flippant about the recession, I am very pleased with the first-quarter figures.

"There are clear indications that customers are looking for value which explains why 57% of them now take their broadband, TV and telephony together from us."

The cable company, once known as NTL, added 7100 new customers in the first three months of this year. That was well up on the 4900 recruited in the same quarter last year and much better than analysts' forecasts it would actually shed 2,000.

Churn, the rate at which customers switch to rival services, dropped to a record low of 1.1%.

Berkett, who became chief executive just over a year ago, also claimed that the Virgin Media brand is now beginning to shake-off the dismal reputation NTL had for looking after its customers.

"We still have a long way to go, but compared to where we were a couple of years ago we are doing very well," he said.

Operating cash flow for the quarter dropped 4% to £312 million but the group swung from an operating loss of £2 million to a profit of £13 million.

Reader views (1)

 Add your view

Unfortunately my experience of Virgin Media is even worse than dismal, and I would urge all readers to think very carefully before signing up - 3 missed appointments so far, then significant damage to my garden, dire responses from customer service, no reply at all when contacting complaints dept and no working phone service yet since installation two weeks ago - I'm a very reasonable person ordinarily, but no way is all this worth a £4 a month saving on BT phone and Orange broadband!

- Patricia Cole, Bromley, UK, 08/06/2009 22:23
Report abuse


Add your comment

 

Terms and conditions Make text area bigger You have  characters left.

We welcome your opinions. This is a public forum. Libellous and abusive comments are not allowed. Please read our House Rules.

For information about privacy and cookies please read our Privacy Policy.


 

 

  • Slump looms in eurozone as economy takes a dive Euro Europe's lingering debt crisis has pushed the eurozone closer to recession as the beleaguered single currency bloc's economy shrank for the...
  • Sports Direct is on right track Mike Ashley Sports Direct is on track to hit its "super-stretch" profit targets this year, passing the first hurdle that could see it hand founder Mike...
  • Bank may turn off printing presses as inflation drops Mervyn King The Bank of England's latest £50 billion burst of quantitative easing may be the last time it needs to resort to the printing presses
  • Online orders on mobiles lift Domino's Pizza Domino's Pizza UK said its online sales have powered ahead to account for more than half of delivered sales
  • Debt deadline: Greece on brink Hopes were rising that Greece will sign up to the first €130 billion (£109 billion) bailout from the European Union and International Monetary Fund
  • Frothy profits at Heineken Beer The economy might be in dire straits but Brits still love a pint down the pub
  • French banks face battering on exposure to Greek debt French banks look set to take one of the biggest haircuts on Greek debt as the country's largest, BNP Paribas, has said it had raised its provisions on Greek sovereign bonds to 75%
  • Thorntons calls in a former Gunner to help turnaround Thorntons The chocolatier Thorntons has turned to the former boss of Arsenal football club to turn around its fortunes
  • LandSecs £1bn joint venture for Victoria A £1 billion-plus redevelopment is on the way at Victoria station
  • Morgan Crucible results surge on emerging market growth Morgan Crucible reported highest-ever full-year results, helped by strong performance across both its divisions, and reiterated that 2012 growth would be driven by new products and emerging markets
  •  
    Market Roundup
    WEDNESDAY UPDATE

    Barclaycard's exit leaves CPP with an identity crisis

    Bye bye Barclaycard. Nearly a year since the FSA started investigating CPP over its sales techniques, the identity theft protection firm touched a new, all-time low today after admitting it was losing one of its most high-profile clients

    More