Anglo-American cable company NTL Inc, the largest cable operator in Britain and owner of Cablelink in the Republic, said yesterday it moved into net profit in the fourth quarter, thanks to the sale of its stake in Cable London.
But, excluding the sale, its loss widened despite solid growth in subscriptions to its telephone and TV services. Net profit for the Nasdaq-listed company rose to $121.2 million in the last three months of 1999, from a loss of $198.5 million a year earlier. Diluted earnings per share were 60 cents in the quarter compared to a $2.51 loss previously. The profit included $493.1 million from the sale of its 50 per cent stake in Cable London to Telewest plc in November.
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