Virgin Media has reported its first ever annual profit of £75.9m, five years after the firm was formed.
The profits may look paltry when compared to its revenues, which for the full year hit £4bn, up three per cent on the previous year, but nevertheless the results will provide a fillip for the UK's last remaining cable company.
Virgin also reported a large rise in the number of customers for its superfast broadband service, with 130,000 new customers signing up in the last three months of 2011 and 579,000 added over the whole year.
Currently 28 per cent of Virgin's cable broadband customers are on services delivering 20Mbit/s or above, the firm revealed.
"Our strategy of focusing on customers who want more from the digital world is paying off," claimed Neil Berkett, chief executive of Virgin Media.
The profits are more good news for the firm which earlier this week announced that more than 10m UK homes can now access its 100Mbit/s service and it is on schedule to complete the rollout of these services by the Spring.
The firm also scored highly in Ofcom's recently published broadband speed tests, with Virgin's up-to 10Mbit/s service found to deliver speeds of between 9.3 and 9.6Mbit/s while its 50Mbit/s service ranged between 47.4 and 48.8Mbit/s.
By contrast chief rival BT's up-to-20Mbit/s service achieved between just 7.8Mbit/s and 9.7Mbit/s, although its 40Mbit/s performed better, delivering between 35.4Mbit/s and 36.7Mbit/s.
Virgin Media emerged as the last man standing after a period of mass consolidation of the UK cable industry, forming from the merger of NTL, Telewest and Virgin Mobile in 2006.
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