Cable operator UPC's revenues exceed €75m

THE IRISH cable television and broadband division of Liberty Global generated more than $91 million (€75.5 million) in revenues during the three months to September 30th.

US firm Liberty Global, which owns the UPC business in the Republic, published results yesterday showing that the Colorado-based group had a loss of $309 million during the three-month period on the back of $2.65 billion in revenues.

The company made a profit of $40 million during the same period in 2007.

However, its accounts indicate that this included a once-off gain of $553 million from the sale of assets.

Its Irish business – which operates cable networks in Dublin, Waterford and Galway – posted increased revenues of 20 per cent on the same quarter in 2007. It generated cashflows of $35.6 million, a 50 per cent increase the 2007 third-quarter cashflows of $23.7 million.

In the first nine months of this year, Irish revenues grew 51 per cent to $275.1 million. Operating cashflow grew at the same rate to $105.2 million from $70.4 million in the nine months ended September 30th.

By the end of September, UPC had 664,300 subscribers. These included 228,500 analogue cable subscribers and 227,500 digital cable subscribers.

UPC Ireland had 94,000 internet subscribers and 23,300 telephone customers at the end of September.

Commenting on the results yesterday, chief executive of UPC Ireland Robert Dunn said that overall it had delivered a good set of results.

“In particular, we are encouraged by the upward trends of our telephone and high-speed broadband services,” he said.

He added that the company’s priority for this year, and beyond, is “improving our overall customer experience”.

Chorus Communications and NTL were merged to form UPC Ireland in October of last year. The deal brought together the main cable TV operators in the country.

Its parent, Liberty Global, has broadband operations in 15 countries across Europe, Asia and the Americas.