Telenet basic subs fall

Belgian cablenet Telenet lost 18,000 subscribers in the second quarter, in line with company expectations, the net loss of 6,000 was lower than in previous quarters.

At the end of June 2008 the total number of subscribers receiving either analogue or digital TV service was 1,667,000 compared to 1,723,000 at the end of June 2007. There are currently 1,188,000 receiving an analogue TV service and 479,000 digital subs.

Financially Telenet was able to compensate in part for the customer losses through an increase in the subscription rate. This meant that revenue from basic subscribers in the first half of 2008 was 109.4 million compared to 110.3m in 2007.

Total revenues increased by 8% to 492.5 million while operating profit was up 12% at 115 million.