Virgin announces ‘best ever year’

British cable broadband provider Virgin Media announced the firm’s best ever financial year with growth of 5.8 per cent to £3.8 billion.

"A strong financial performance combined with the launch of a number of market leading product developments ensured 2010 was a year of great achievement for Virgin Media," said Virgin chief Neil Berkett.

pointed to "significant strides forward" in the firm’s mobile and business operations which helped boost the firm’s bottom line. The firm reported mobile contracts up a strong 27.5 per cent.

Looking to 2011, Berkett said that the firm’s new TiVo-powered TV service would "provide a real step change in home entertainment."

Virgin’s strategy of aggressively boosting broadband speeds appears to have paid off as the firm added 76,600 new cable broadband customers.

Ever faster broadband is part of Virgin’s strategy to continue to poach customers from rivals such as BT. Berkett said the company planned to "accelerate our lead in next-generatoin services."

Virgin’s 100Mb network, only available in parts of the country so far, is ultimately capable of speeds up to 400Mb.