TalkTalk has announced its preliminary Q4 and full-year results, showing a rise in profit.
Q4 saw the telecoms provider’s revenue rise 6 percent year-on-year to £475 million. Revenue for the full-year rose 4.2 percent to £1.795 billion.
Full-year profit after tax rose 157.1 percent to £72 million, from £28 million in 2014.
Among highlights for the year, the company added 1 million new revenue-generating units. TalkTalk Business reported 40 percent data revenue growth and a growth in the customer base of 50 percent.
The company raised its revenue CAGR target to FY17 and beyond to 5 percent.
Dido Harding, Chief Executive of TalkTalk commented:
"We have delivered on our revenue growth guidance as planned, and have exited the year with our strongest ever quarterly revenue growth of 6%, and our lowest ever level of churn. British consumers and businesses increasingly appreciate TalkTalk’s value for money products, and we are focused on improving our customers’ experience still further and growing our already flourishing quad play business.
"We are upgrading our revenue CAGR target to FY17 to 5% and are on track to deliver our 25% EBITDA margin target in FY17. Beyond FY17 we expect to continue to grow revenues by at least 5% per annum and we are excited about the opportunities that building an ultrafast fibre network and scale inside out mobile network will bring.
"We believe firmly that competition will drive the innovation and investment that Britain needs in this essential infrastructure and urge the respective regulatory bodies currently reviewing the various mergers and industry structure, to put strong competition at the heart of their decisions."