TalkTalk bidding to reset after making £75m loss
Warrington-based telecoms company TalkTalk has plunged into a pre-tax loss of £75m from a profit of £30m in the half year to September 30.
Revenue has also fallen from £902m in the corresponding period last year to £856m, as its new chief executive Tristia Harrison endeavours to “simplify and reset” the business following the departure of predecessor Dido Harding in May.
She said she is aiming to focus the company’s priorities on growth, cash and EBITDA.
Headline EBITDA for the period was £95m, excluding losses from TalkTalk’s mobile virtual network operations or MVNO (H1FY17: £144m excluding MVNO loss).
However, Harrison said the first-half performance showed the company was delivering on its plan.
“We have now delivered a third consecutive quarter of growth in our broadband base, with both retail and wholesale bases growing, returning on-net revenue growth.
“Our clear value proposition is resonating strongly against an uncertain economic environment and underpins our plan to simplify and focus all our investment in delivering affordable, reliable fixed connectivity to both homes and businesses.”
Meanwhile, TalkTalk has announced that Nigel Langstaff will join its board as an independent non-executive director with immediate effect.
