Virgin Media’s Q3 results represent a significant step in the recovery of the business, with ARPU and consumer cable revenue stable for the first time in 18 months. Group OCF growth was hit by one-off opex reductions in the prior quarter but continues to grow on an underlying basis

VMed’s Q2 results represent a further step in the recovery of the business, with fixed line churn continuing to fall and operating cash flow (OCF) continuing to grow, helped by a dramatic improvement in OCF at Virgin Mobile

VMed’s Q1 results represent a further step in the recovery of the core cable business, with markedly lower churn and strong growth in operating cash flow (OCF)

Growth in ARPU is reinforcing the impact of improving cable subscriber growth, but revenue remains in decline, year-on-year