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The boss of Virgin Media today said “more products, more customers and more people buying more expensive products” pushed third-quarter revenue up 1.3% to £953 million, in the firm's first trading update since listing on the London Stock Exchange.
Chief executive Neil Berkett said Virgin Media — which provides mobile, TV, broadband and phone packages — had posted a second successive quarter of record average customer monthly spend, up 5% to £44.24 each in the three months to October.
Virgin's mobile business grew 51% year-on-year, taking the network to 873,000 customers, while its TV arm is benefiting from the analogue to digital switchover, with the number of subscribers up 37,000 to 3.71 million.
Berkett said he was “very pleased” with watchdog Ofcom's plans to force Sky to cut the price it charges rivals to play its premium live sports coverage. “Right now, consumers are suffering as a result of Sky's position of control,” he said.
