TalkTalk making progress on restructuring programme

In its first set of annual results since it demerged from the Carphone Warehouse, TalkTalk has posted revenues of £1.76bn, up 4.6 per cent on fiscal 2010, and statutory pre-tax profit of £57m, over four times higher than last year. The strong-all round performance masked an overall decli

In its first set of annual results since it demerged from the Carphone Warehouse, TalkTalk has posted revenues of £1.76bn, up 4.6 per cent on fiscal 2010, and statutory pre-tax profit of £57m, over four times higher than last year.

The strong-all round performance masked an overall decline in paying broadband customers as a result of major customer service hiccups in the wake of the Tiscali acquisition. The firm is also pushing ahead with plans to cut close to 600 jobs.

Chief executive Dido Harding said the firm had "worked hard to mitigate the impact of this disruption".

"We are confident that we are now making major progress in improving the experience for our customers, which will lead to lower churn," she said.

Nevertheless, the outlook for the next financial year is for revenues across the business to remain flat as non-broadband revenues continue to decline.

The firm's b2b unit, TalkTalk Business, saw flat fourth quarter sales of around £80m, reflecting declining voice sales and tempered by data services growth.

It said the unit saw business broadband and higher-value data solutions products performing well, while sales of carrier-grade Ethernet products "accelerated substantially".

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