TalkTalk’s results revealed a challenging market environment, with it struggling to maintain its broadband subscriber base given the onslaught from larger and more differentiated competitors
Revenue growth was still a healthy 6%, but this was helped by acquisitions, price adjustments and low margin mobile, with its EBITDA falling despite the drop in broadband customer growth and associated costs
Its cost savings programme and marked price increases are likely to allow it to grow EBITDA this year and next, with the impact of the cyber-attack being significant but short-lived, but its declining retail customer base is a longer term concern