Telenet earnings get boost from broadband, TV services

Belgian cable operator Telenet reported a rise in core profit that was slightly above analysts' expectations and its own guidance, boosted by sales of internet broadband and television services, a Reuters report said.

The Reuters report also quoted CEO Duco Sickinghe as saying that 'our financial results for 2007 fully achieved our outlook.'

Earnings before interest, tax, depreciation and amortization rose 21% to 442.9 million euros ($647 million).

The average forecast in a Reuters Knowledge poll of 16 analysts was 438.9 million euros ($641 million).

The Reuters report added that Telenet's EBITDA margin stood at 47.5% while the company had forecast 47%.

Telenet is the largest broadband cable service provider in Belgium and focuses on offering cable TV, high-speed internet and telephone services to customers principally in the Flemish part of the country.

Liberty Global, the world's biggest international cable group holds about 52% of the company.

Sales rose 15 % to 931.9 million euros ($1.363 billion), at the upper end of Telenet's guidance for a rise of 14 to 15% and nearly in line with the Reuters Knowledge average forecast of 932.7 million euros ($1.365 billion), the report further said.