Troubled NTL to announce results

Troubled cable operator NTL, which has just emerged from Chapter 11 bankruptcy protection after agreeing a £6.8bn debt-for-equity (€9.9bn) swap, will draw a line under a difficult year tomorrow with fourth quarter and annual results.

The financial restructuring has prevented analysts from making accurate results forecasts, although most of the attention of the results presentation will be on the outlook and the chances of a merger with rival Telewest.

Chief executive Barclay Knapp will also be under pressure to show how successful New York-listed NTL has been in retaining customers at a time when spending on marketing has been restrained.