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October 23, 2012

Public sector success boosts Virgin Media Business

Revenue up 10% to £170m

By Steve Evans

Virgin Media Business has seen a 10% growth in revenue, driven primarily by improved performance in the public sector.

Revenue for the third quarter climbed 9.5% to £168.6m. Revenue for the group as a whole stood at £1.027bn for the quarter, which was just a slight increase on the £1bn recorded during the same quarter a year ago. This means revenue growth in the Business section is currently outpacing growth for the Group has a whole.

Net income for the Group came in at £124m; net income for the Business division is not disclosed.

Mark Heraghty, managing director Virgin Media Business, said the growth can be attributed to improved performance in the public sector.

"It’s great to be in a position where I can report yet another quarter of growth, our fifth consecutive one. The business division has continued to be a key driver of Group revenue growth and this is a direct result of continued success in the public sector as well as pushing connectivity boundaries in the mobile world," he said.

He added that the company is in good shape to cope with incoming technologies such as 4G. "Two successful trials of small cell technology resulted in mobile data speeds of up to 90Mb/s. This technology will finally enable mobile operators to deliver a service that will enable their customers to enjoy 3G as they should and will help to support their 4G or LTE future," he said.

The company also recently announced that it would be extending its free Wi-Fi on London Underground scheme to the end of 2012. Next year it is expected to be available as part of a Virgin Media subscription, although other ISPs may also offer the service.

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It was originally introduced for the London 2012 Olympic Games and proved to be a big success, with nearly half a million people logging on during the Games, resulting in over eight million interactions.

Free Wi-Fi is currently available in 72 stations and will be extended to reach 120 by the end of the year.

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