In amongst all the doom and gloom when it comes to financial reports, it is nice to see some good news for the telecoms sector. Many telecoms companies are reporting that they are doing quite well, and one such report that caught our eye last week was about TalkTalk. Shares in the telephone and broadband company rose by more than 20% last week after it doubled its pre-tax profit for the year and increased its full year dividend by almost two thirds.
It has also seen a slowing down in customer departures, as it has been trying to loose the reputation that is had had for poor customer service. This came to public attention when it was fined £3million by the telecoms regulator, OFCOM, for billing ex-customers. Losses reduced to 13,000 last quarter, down from the 43,000 of the previous quarter.
TalkTalk plans to launch YouView in the summer, a new version of Freeview which it feels will help it compete better with BT, Virgin Media and B-Sky-B. It is clear that TalkTalk isn’t out of the woods yet, but it is good to see things are looking better for them and hope that this continues.
