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Virgin Media broadband 'continues to grow in popularity'
Friday 26th February 2010, by Daniel King
The popularity of Virgin Media's broadband internet service is increasing, if the firm's quarterly financial results are anything to go by.
Virgin Media this week announced its operating cash flow was up 15.3 per cent during the final three months of 2009 - which may be at least partly due to the 63,600 new broadband subscribers that signed up in the period.
Total revenue also grew, by 3.3 per cent to £980 million, while operating income increased from £5 million to £64 million.
Such promising financial results - made all the more impressive considering the poor economic outlook - may be behind Virgin Media's ability to enhance the broadband internet service it is providing.
For example, 45 per cent more homes now enjoy broadband speeds of at least 20Mb compared with just a year ago.
Neil Berkett, chief executive officer at Virgin Media, said: "We continue to invest in the quality of our services. Nearly all our 3.8m cable broadband subscribers now have a 10Mb service or higher.
"We are exploiting this advantage by expanding our trials of a 200Mb broadband service and are planning the commercial launch of a 100Mb service later this year."
Virgin Media this week announced the plans to offer a 100Mb connection by the end of 2010, claiming it will be 24 times faster than the average speed offered by all of its rivals.
It outlined its aim for the revolutionary broadband service - which will allow users to download a music track in just five seconds - to become the firm's "flagship product".
Categories: Virgin Media
