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TalkTalk swings to small first-half profit after adding new broadband customers

By BFN News | 07:17 AM | Friday 15 November, 2019


Telecom company TalkTalk Telecom swung to a small first-half profit as the addition of new broadband customers helped it boost its operating earnings. Pre-tax profit for the six months through September amounted to £1m, compared to a loss of £4m on-year. Revenue fell 3.4% to £792m, mainly due to exiting mobile virtual network operator functions and declining fixed-carrier sales. Headline Ebitda grew 14% to £140m as the company's net fibre adds jumped 52% to 292k, including a record 174k in the second quarter. TalkTalk stuck to its Headline Ebitda guidance for the full year. 'We're pleased that our clear strategy to accelerate customer growth in Fibre broadband while also reducing costs has led to a significant increase in profitability in the first half,' chief executive Tristia Harrison said. 'Fibre broadband is good news for customers and TalkTalk' 'It offers a faster, more reliable service whilst also reducing churn and comes with a materially lower cost to serve.' 'In addition, our soon to be completed HQ move and shift to a self-service model is underpinning our cost reductions.' Story provided by StockMarketWire.com

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