• 6th consecutive quarter of year-on-year revenue growth – 3.1%
  • 7th consecutive quarter of base growth – 10,000 broadband net adds
  • Continuing strong growth in TV – 185,000 net adds taking base to over 1.1m
  • On-net churn reduced to 1.4% with continuing improvements in customer experience
  • Continuing strong growth at TalkTalk Business driven by data products revenues (+54%)
  • On track to deliver FY15 guidance and medium term financial targets

Financial Highlights

  • Total revenue up 3.1% year-on-year to £434m (Q1 FY14: £421m)
  • On-net revenue up by 5.2% year-on-year to £322m (Q1 FY14: £306m)
  • Corporate revenue up by 10.0% to £88m (Q1 FY14: £80m)
  • On-net ARPU stable at £26.36 (Q1 FY14: £26.28)
  • £819m refinancing completed; new RCF and successful US Private Placement

Operating Highlights

  • 23,000 on-net net adds , taking total on-net base to 4.08m
  • 24,000 new mobile customers added, taking base to 308,000
  • 34,000 new fibre customers added, taking base to 241,000
  • 1,800 new EFM/Ethernet lines added, taking base to 19,000

Dido Harding, Chief Executive of TalkTalk commented:

Our strategy for growth continues to deliver according to plan, and we are delighted to report another quarter of base growth and year-on-year revenue progress, including continuing strong momentum in new products such as TV, and data services in TalkTalk Business. Importantly, we have also continued to reduce churn on our on-net base, with a third consecutive quarter of improvement, as we continued to improve our customers’ experience and drive increased loyalty through new products. We expect revenue growth to again, build through the year and we are on track to deliver our FY15 revenue and margin guidance, and medium term financial targets.