Price increases and improved sales helped NTL double first-quarter earnings, according to figures released yesterday.
Although pre-tax losses widened significantly, earnings before interest, tax, depreciation and amortisation for the three months to March 31st were £86 million (#109 million), up from £43 million a year ago.
Revenues were £622 million, up from £306 million last year. The company said it would seek £40 million in cost savings this year by reducing staff numbers. However, revenues at NTL Ireland fell to £10.1 million sterling (#16.2 million) from £11.3 million in the previous quarter and were flat against the year ago period.
Mr Brian Moore, head of NTL Ireland, said the fall on the previous quarter was due to a change in accounting principles from a cash-receipt basis to a invoice basis.
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