Ntl Q1 profits rise by 26%

ntl announced its first quarter 2004 results today which saw its profits grow by 25.8% to £196.8m (€290m).

The profit was "mainly driven by 10% revenue growth in ntl: Home," according to Simon Duffy, Chief Executive Officer of ntl.

The telecoms firm also added 61,500 net customers in the quarter.

Revenues in Ireland remained flat at €25.8m in Q1 2004 when compared with Q1 2003.

Digital television customers in Ireland grew by approximately 7,100 to 78,400 (including MMDS) and ntl: Ireland ended the quarter with approximately 341,200 residential customers (including MMDS).

Mr Duffy said: "The first quarter results demonstrate a strong start to the year with increased profitability across all divisions compared to Q1 2003, with both revenue and segment profit margins on track for continued, steady growth.

"Following a year of restructuring, ntl: Business returned to revenue growth in the first quarter compared to Q4 2003."