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Virgin Media news

Internet service provider (ISP) Virgin Media increased its profits during the first quarter of the year, boosted by the launch of 100Mb super-fast broadband.

The ISP reported pre-tax profits of £376 million for the January to March 2011 period, up 7.6 per cent on the previous year.

Q1 2011 revenues stood at £982 million, despite a 70 per cent drop in the number of new consumers signing up for Virgin Media's subscription TV service.

In total - with broadband deal subscribers included - the ISP increased its customer base by 20,200 during the first quarter, meaning Virgin Media now has 4.82 million subscribers nationwide.

Some 63.4 per cent of consumers are signed up to a triple-play broadband deal, while 12 per cent are currently taking four broadband services from Virgin Media.

The ISP launched its super-fast 100Mb broadband service in December 2010 and is gradually rolling out the fibre technology across its cabled area.

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