Media

Sharp drop in earnings at Virgin Media

Revenues edge up as telco and TV broadcaster sees rise in mobile subscribers

Paul Farrell, manading director of Virgin Media Television, whose parent company reported a declined in earnings of 106 per cent Pictute: Fergal Phillips

Net earnings at Virgin Media Ireland fell sharply in the first quarter, new figures show.

Earnings declined 106 per cent versus the same there months period a year earlier to €3.5 million from €55 million due to losses on derivative instruments.

The telco and TV broadcaster  reported a slight rise in revenues during the first quarter to €114. million , up from €113.9 million a year earlier. This was primarily a result of an increase ...