This has been a year of significant progress for TalkTalk. We successfully introduced value for money pay TV to the UK mass market and in the six months since launch have built a base of nearly a quarter of a million subscribers. We also launched a mobile handset proposition for existing customers that has proved extremely popular for its range, value and simplicity. TalkTalk Business has also had a good year, delivering strong growth in new, competitively priced data products such as Ethernet and EFM.
This is quite simply, TalkTalk doing what it should – creating disruptive and value for money propositions that make our customers’ lives better.
Most importantly, we continue to make great progress in simplifying our business and making our processes more efficient. The most tangible benefits of this are happier customers and reduced churn.
As a result we delivered a substantial improvement in underlying profitability which, despite our investment in TV, allowed us to grow the dividend by the 15% we committed to last year. I am pleased to report therefore that for FY13 the Board has declared a final dividend of 6.95p that, in addition to our interim dividend of 3.45p, gives a total pay-out for the year of 10.4p.
It has been another year of significant change and challenge for our employees. The Board and I would like to thank them for their efforts and for their continuing commitment to TalkTalk and to our customers.