ntl 'pleased at 2003 results

ntl has announced its results for the three months and year ended December 31, 2003.

Highlights from the results show an increase in revenue of 8% to £577m (€865.51m) for the quarter, totalling £2,230m (€3,345.07m) for 2003.

The group's combined segment profit grew by 26% to £205m (€307.50m) for the fourth quarter, full-year at £734m (€1,101.04m), driven by higher revenues and expanding margins.

Ntl Home ended the year with 2,867,900 customers and is now serving over one million broadband users.

Average revenue per user was £41.96 per month (€62.94m) , enabled by triple-play network drives.

The groups net loss decreased by almost 80% to £130m (€195m) for the quarter, totally £584m (€876.01m) for 2003.

Chief executive officer of ntl, Simon Duffy, said: "I am very pleased to announce ntl's fourth quarter and year-end 2003 results which demonstrate a significant return to growth for the company.

"ntl Ireland more than doubled its segment profit Q4 2003 over Q4 2002 by growing its digital TV customer base, raising basic prices and reducing bad debt."