H1 Financial Highlights
1 Excluding exceptional items and amortisation of acquisition intangibles
Q2 Operating Highlights
Dido Harding, Chief Executive of TalkTalk commented:
“We have made strong financial and operational progress in the first-half of the year with accelerating revenue growth, profits up 45% and operating cash flow up 120%.
We are ideally placed as the market moves to quad-play bundling of fixed phone and broadband, TV and mobile. A third of our customers now take phone, broadband and TV from us, 9% take mobile and we recently announced that mobile will now come as standard for all Plus TV customers. This, coupled with our work to continually improve our customers’ experience, has again helped us to reduce churn, which fell to 1.4% from 1.7% a year ago.
We expect to deliver revenue growth of at least 4% and strong growth in EBITDA for the full year. In the second quarter we delivered our strongest organic broadband, mobile and fibre net additions in four years as well as adding more TV customers than the rest of the market put together. We expect this growth to accelerate in the second half which means we will invest more in customer acquisition costs than we anticipated at the beginning of the year. This investment will provide us with a larger customer base to leverage over the medium term, further reinforcing our confidence in achieving our FY17 financial targets.”