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Friday 10th November 2006
Tiscali reaps new subscriber revenues 6:08PM, Friday 10th November 2006
Tiscali has announced its third quarter results, with revenues up nearly a third to €168.9 million, mainly due to new subscribers to its broadband services, it claimed.

The broadband provider added 160,000 new customers in the quarter. The majority signed up in the UK market, some as part of Tiscali's buy of Video Networks Limited (VNL) and its Homechoice brand.

The UK brought in €113.5 million, up 37 per cent year on year, with €74.2 million of this from services such as fixed line and voice comms.

The UK
 
 
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sector also showed the biggest upsurge in users. Some 43,000 of the 137,000 new subs were the result of the VNL acquisition.

Overall, Tiscali showed EBITDA figures of €26.5 million for operating profit, more than double the figure for the corresponding quarter of 2005. However, gross margin for the first nine months of the year was down 2 per cent to 45 per cent of revenues.

Its net results, which include the sale of certain assets and depreciation of others such as its early investments in equipment for unbundling the BT network, stood at €6.9 million for the quarter, compared with a loss of €16 million in Q3 2005.

During the period it also sold off its Dutch arm to KPN Mobile. It also boasts some €17 million in cash in the bank. Sequentially Tiscali has also now reduced its debt to €311 million.

Its guidance for 2006 is €688 million in revenues and a subscriber base in excess of 3 million.

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