TalkTalk cuts losses as fibre booms; revenue at £1.6bn

Tristia Harrison

Salford-based broadband giant TalkTalk Telecom Group said on Thursday its revenue for the year to March 31 slipped 1.3% to £1.63 billion and it reduced its statutory loss before tax to £5 million from a £100 million loss last year.

The firm said it enjoyed accelerated fibre uptake with about 490,000 “net adds” in the year and a record 152,000 in the fourth quarter.

TalkTalk CEO Tristia Harrison said: “Today’s results show that two years after re-setting TalkTalk, the fundamentals of the business are much stronger.

“We have grown our customer base in a disciplined way, accelerated fibre take-up, and reduced costs.

“This is translating to revenue growth and a c.17% increase in headline EBITDA.

“Looking forward the business will continue with the same plan, focused on accelerating Fibre, reducing costs and simplifying the business.

“Having re-structured the customer base to reduce the difference between our front and back book pricing, the business is also well placed to benefit from imminent regulatory changes related to fairer pricing.

“These trends, coupled with ongoing cost reductions including our move to one Salford campus, mean we are confident in delivering strong headline EBITDA growth both next year and over the medium term.”