Trading update for the 6 months to 30 September 2018 (H1 FY19)
Continued growth in Broadband base and Headline revenue; reiterating full year expectations
Tristia Harrison, Chief Executive of TalkTalk, commented: “This has been a strong first half for TalkTalk, with continued broadband base growth and further progress as we become a simpler, more efficient business. Our Fairer Broadband commitment, focus on reliability and unique Fixed Low Price Plans continue to improve customer satisfaction and loyalty, resulting in our lowest ever churn in the second quarter. We remain on track to deliver our plan for the year, with growing Consumer ARPU and increasing revenue leading to strong EBITDA growth.
"With core business performance on track, we are today announcing two additional steps to position TalkTalk for the future. We are accelerating our full fibre strategy, launching a new company, FibreNation, which will expand our Gigabit broadband footprint to over 100,000 homes in the next 12-18 months. As we continue to radically simplify TalkTalk, we will also create a single main campus for the business in Salford. Having a single main home will reduce operational complexity and allow us to become a more efficient, focussed business, in turn supporting our long-term growth.”
1 All customer KPIs relate to the On-net base. The closing Off-net base amounted to 33k at the end of Q2 FY19 (Q2 FY18: 55k), representing less than 1% of the total broadband base.
2 See note 7 for a reconciliation of headline information to statutory information.
3 See note 2 for further details on the restatement of comparative information due to the introduction of IFRS 15 and IFRS 9.
The person responsible for arranging the release of this Announcement on behalf of the Company is Tim Morris, Group General Counsel and Company Secretary.