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TalkTalk telephony group’s 31% revenue boost in first quarter since demerger
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PHONE and internet provider TalkTalk Telecom Group said it is on track to hit all its targets for the year in its first quarterly update since demerging from parent company Carphone Warehouse this March.
Total revenues in the three months rose by 31% to £444m, including £87m – up 14% – from its business-to- business arm Opal and reflecting the integration of its Tiscali acquisition.
The group added 34,000 new broadband customers giving it a customer base of 4.23 million.
Chairman Charles Dunstone said: “I regard this as a very solid performance.”
Chief executive Dido Harding also reported progress on the proposed mid-2011 launch of its Project Canvas venture with the BBC, ITV, BT, Channel 4 and Arqiva which will provide TV and video-on-demand, web-based content, high definition and interactive services over the internet to customers’ TV sets.
The new group said it is confident of meeting predictions of up to 8% revenue growth for the full financial year to March 2011.
More than 1,000 staff work at the Warrington-based call centre of TalkTalk and Opal.
TalkTalk was first launched in February 2003 but was spun off as an independent operation by Carphone Warehouse on March 23.
The split was part of a shift in its corporate structure following a deal with US retail giant Best Buy to open a string of UK and European outlets, including a Merseyside presence with an Aintree Best Buy store.
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