UK Telecoms Firm TalkTalk Tops One Million TV Customers as Revenues Increase Again

British telecommunications firm TalkTalk reported its sixth consecutive quarter of growth as revenues increased by 3.1%.

Total revenue reached £434m in its first quarter after it added 10,000 customers to its broadband service and increased its TV subscriptions by 185,000 customers to reach 1.1 million.

A lot of TalkTalk's new customers can be attributed to the internet providers' agreement with BSkyB.

Using the YouView service, TalkTalk is able to offer its customers access to packages such as Sky Movies and Sky Sports, including the broadcasters' new Sky Sports 5 channel, which will show over 600 European football matches in the upcoming season.

With this popularity in mind, TalkTalk has extended its agreement with Sky in a 'multi-year' deal, without releasing the financial details.

Dido Harding, chief executive of TalkTalk, said she expects around the same amount of new TV subscribers this year as in the last fiscal year – roughly 680,000.

"Our strategy for growth continues to deliver according to plan," said Harding.

"We are delighted to report another quarter of base growth and year-on-year revenue progress, including continuing strong momentum in new products, such as TV, and data services in TalkTalk Business.

"Importantly, we have also continued to reduce churn on our on-net base, with a third consecutive quarter of improvement, as we continued to improve our customers' experience and drive increased loyalty through new products."

Despite another strong posting, its share value was down by 0.94% in early morning trading to hit 317p for TalkTalk Telecom Group PLC.

But the price of its stocks has been steadily rising over the past year, driven by an influx of new subscribers, from 243.8p on 26 July 2013, signifying a 30% rise.