Virgin Media Q1 2009 results: awaiting impact of price changes
20 July 2010
VMed’s Q1 results were again mixed, with declining group revenue and OCF margin but improving performance at Virgin Mobile and continuing strength in TV
The core cable business is facing a return to negative customer growth due to a combination of seasonality and stalling demand for broadband
But de facto price increases in broadband, TV and mobile should boost financial performance from the autumn; we expect this to be combined with reduced opex to generate significant cash flow growth from 2010