06-08-2009

Liberty Global announces Q2 losses

By
    Liberty Global, which operates UPC broadband divisions in Hungary and four other CEE territories, reported second quarter loss in revenues of $60.7 million, and a $93 million loss for the first half of 2009.

    Hungary registered a decrease of $28.9 million during the second quarter of 2009, and a total of $52.6 million for the first half of the year. The company's other operations in the region (Czech Republic, Poland, Romania and Slovakia) showed a $48.1 million decline in quarter two, and a $144.5 million decrease for the first six months of 2009.

    On July 15, 2009, Liberty Global (www.lgi.com) completed the sale of UPC Slovenia to Mid Europa Partners for a cash purchase price of €119.5 million ($167.9 million), before working capital adjustments. UPC expanded operations slightly in Hungary, through minor acquisitions.

    Strong operating cash flow was noted in Poland, up by more than 14%.

    Liberty Global also announced the authorization to increase its stock repurchase program by an additional $250 million.The company trades on NASDAQ as LBTYA, LBTYB and LBTYK.

    Published in Region

    Latest from Cathy Meils

    More in this category:« m-appeal picks up Slovene, Hungarian films CME Announces second quarter losses »