A sharp rise in subscriber numbers - up 61,500 - has helped leading UK cable company NTL reduce its net losses. The TV and telephone line provider's net loss narrowed more than 60% to �65.4m during the first quarter of 2004.
A 37% reduction in interest costs following last month's debt restructuring also contributed to the stronger financial performance.
A 7% rise in turnover to �585m helped lift NTL's operating profits into the black for the first time.
NTL reported �2.2m operating profits for the quarter, up from an operating loss of �54.1m during the same period last year.
It is a dramatic turn-around from last year when NTL was under bankruptcy protection following a default on the massive loans it had amassed during the 1990s telecom and internet boom.
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