Liberty Global Result 06/11/2014

By Raverstead
subscribe

Liberty Global plc has reported its third quarter and nine month results and also announced the completion of its tender offer to acquire Dutch cable operator, Ziggo. The company’s net profit in Q3 reached $157.1 million, compared with a net loss a year earlier of $830.1 million. The company said that this year on year improvement was aided by positive movements related to its derivative instruments, which more than offset the net increase in foreign currency transaction losses. Turnover for the quarter increased 5.1% YoY to $4.5 billion from $4.3 billion. In the nine month period to September, Liberty Global’s net loss narrowed to $171.6 million from $842.7 million in the same period of last year, with turnover rising 36% to $13.6 billion from $10 billion a year earlier. The company confirmed that the acquisition of Ziggo was now complete and that the process would begin to integrate Ziggo with UPC Netherlands.