Virgin Media Ireland revenue rises 3.5% in first half of 2019

Parent Liberty Global sees operating income drop 44 per cent in second quarter

Tony Hanway, chief executive of Virgin Media Ireland. ‘We’re seeing a massive growth in consumer and business activity across our network,’ he says. Photograph: Dara Mac Dónaill

Tony Hanway, chief executive of Virgin Media Ireland. ‘We’re seeing a massive growth in consumer and business activity across our network,’ he says. Photograph: Dara Mac Dónaill

 

Revenue at Virgin Media Ireland rose to €225.9 million for the first half of the year gaining 3.5 per cent.

The company said its mobile, cable, business to business and Virgin Media Television divisions showed strong performance over the six-month period.

Total television subscribers fell by 2,700 in the second quarter, while broadband subscribers declined by 1,100 and home telephone customers were 6,500 fewer than three months earlier, figures from parent Liberty Global show.

Virgin Media Ireland said its total service subscriptions reached 1.1 million, and the company added a further 19,000 homes and businesses to the Virgin Media network.

That brings the total premises passed to 941,400, up from 929,800 at the end of the first quarter.

The company said mobile customers had increased 43 per cent year on year to 91,500 for the half year to date.

Virgin Media Ireland chief executive Tony Hanway said the company had delivered “great results” in the first half of 2019.

“We’re seeing a massive growth in consumer and business activity across our network,” he said. “We’re continually investing in Ireland’s fastest broadband network and are already offering 500Mb speeds in towns and cities nationwide.”

Television subsidiary

Virgin Media Television, previously known as the TV3 Group, grew its audiences across free-to-air channels and on demand services, with a 19 per cent share of linear viewing in the six month period.

Streaming on the Virgin Media Player service rose by 61 per cent year on year, the company said, with 7 per cent growth in catch-up viewing through the online player.

Liberty Global, which is controlled by US billionaire John Malone, said operating income in the second quarter was down 43.7 per cent year-on-year to $148.7 million for its continuing operations. Revenues fell 0.7 per cent in the second quarter.

Chief executive Mike Fries said its core operating businesses, particularly Virgin Media, had “substantial opportunities for expansion and growth”.