TalkTalk reports positive preliminary figures

Monday, May 23rd 2011
The latest preliminary results from TalkTalk look positive for the firm overall.
TalkTalk reports positive preliminary figures
Broadband service provider TalkTalk announced late last week that revenue and cashflow were both extremely positive in its preliminary results for the 12 months to March 31st 2011.

Total revenue grew from £1.686 billion for the full year (FY) 2010 to £1.765 billion in this latest set of figures.

The company revealed headline earnings before interest, taxes, depreciation and amortisation of £276 million (up by 25 per cent year-on-year) and a growth in the firm's headline margin to 15.6 per cent from 13.1 per cent in FY 2010.

Charles Dunstone, chairman of TalkTalk, commented: "It has been a year of intense activity for TalkTalk, as we successfully completed the integration of the former Tiscali business, refocused our strategy, extended our network coverage and launched a major restructuring to make our business more efficient."

He added that the outlook for the coming 12 months is therefore looking good for the company, with far-reaching changes set to help to provide a better experience for TalkTalk customers and continuing strength in both revenue and profitability.

Overall, the company achieved a £55 million synergies run rate during the course of the full financial year and as a result, it has reiterated medium-term revenue growth and a target margin of 20 per cent.

The firm's dividend policy for 2012 is set to increase by 50 per cent for stakeholders in TalkTalk, with earnings per share presently up by 24 per cent to 13.5 pence.

TalkTalk is now the operator of a number of well-known UK brands, including AOL and Tiscali.

At present, the company has approximately 4.1 million broadband customers across the UK, but is targeting concerted growth in this area over the coming years, with the firm looking to steal a march on its rivals through the offering of its own next-generation unbundled broadband network, as it aims to maximise operating efficiency and minimise supplier costs.

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