TalkTalk ‘outperforms market’ as it enters 2020

Telecommunications company TalkTalk has today shared its third quarter trading update.

The firm, which operates nationally, saw a 0.8 per cent contraction in revenue year-on-year, but reports that revenue was up 1.6 per cent sequentially.

Despite the reduction in headline revenue year on year, the company reports that it was up £6m from its second quarter.

The company, which plans to move from its London headquarters this year, predicts that its balance sheet will further strengthen in the next quarter following the sale of its FibreNation business in a £200m deal.

Tristia Harrison, chief executive of TalkTalk, commented: “TalkTalk enters 2020 a far simpler business with a structural advantage to accelerate Full Fibre nationwide.

“The recently agreed sale of our FibreNation business for £200m will strengthen our balance sheet while securing a long-term, competitive wholesale agreement, as well as full optionality to work with all Full Fibre builders.

“In the last quarter, we have outperformed the market on Fibre and Ethernet growth, with increasing numbers of customers in both Consumer and B2B taking higher speed products.

“As we look forward, we will reap the benefits of this simplification, further cost reductions, a strengthened balance sheet and cash generation.”