Nynex Corp’s UK cable television and telecommunications services supplier Nynex CableComms Group Plc said it is on target to pass over half a million homes this year, although it attributes a 100% increase in interim losses to costs associated with setting up operations in its Northern UK Franchises. The Surbiton, Surrey-based company, which has franchises in 16 areas encompassing around 2.7m homes, reported interim net losses of ú43m, up from losses of ú19.6m for the same period last year, on turnover up 100% to ú35m. It said it had seen an increase of 100% in revenues from cable television and residential telecommunications, despite the introduction in March 1995 of our competitive savings of 25% on monthly bills for residential customers over BT’s standard prices before discounts and promotions (CI No 2,616) . Cable television churn rates have fallen to 28.6% from 32.1% at March 31, the company said, and it therefore expected to be able to grow television penetration again, after it fell to 18.8% from 19.0% at March 31. During the second quarter of 1995, the company entered into a programming carriage agreement with British Sky Broadcasting Group Plc, which it hopes will stimulate demand for its services and gives it access to pay-per-view services Sky might launch in the future. In June, Nynex completed a global offering of approximately 33% of its shares (CI No 2,682), raising some ú380m net for the company.
