Wednesday 16 October 2019

Revenue at Virgin Media Ireland increases 7pc in 2018

John Malone, CEO of Liberty Global.
Photo: Reuters
John Malone, CEO of Liberty Global. Photo: Reuters
Ellie Donnelly

Ellie Donnelly

Virgin Media Ireland revenues increase by 7pc last year to €446m.

At year end the group had 1,080,000 cable and mobile subscriptions, an overall organic increase of just over 2pc.

The group’s growth was broadly based across mobile, business to business, Virgin Media television and cable broadband through its ongoing network expansion investment, the company said in a statement.

In its mobile division, subscribers grew by 63pc to 81,500 customers.

Virgin Media Ireland group CEO, Tony Hanway, said: "Our strategy of focusing relentlessly on customer service and quality has seen us post excellent year-on-year growth as the Virgin Media brand continues to go from strength to strength in Ireland."

"At Virgin Media Television we also saw very strong revenue performance helped by audience growth across both traditional channels and on demand services. Major event programming such as the Six Nations, Ireland’s Got Talent and new Irish drama 'Blood' ensure we broadcast more original Irish content than ever before," Mr Hanway added.

Virgin Media Ireland is owed by US cable pioneer John Malone’s telecom group Liberty Global, which also had results out today.

Income from continuing operations at the group increased 10pc to $839m (€737m) for the year.

Elsewhere and Liberty announced the sale of UPC Switzerland to Sunrise Communications Group for a total enterprise value of CHF 6.3bn (€5.5bn).

Sunrise will pay Liberty Global CHF 2.6bn (€2.3bn) in cash, and assume 3.6bn Swiss francs (€3.2bn) of UPC's debt.

Liberty, which is listed in the US, is also awaiting European Union approval for its sale of its assets in Germany and eastern Europe to Vodafone for $21.8bn.

(Additional reporting Reuters)

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