Kabel Deutschland posts record sales
$1.8 billion in revenue, 15% jump in operating profitsBERLIN -- Europe's number one cable TV operator, Kabel Deutschland (KDG) posted a record €1.5 billion ($1.8 billion) in revenue and a 15% jump in operating profits to €659 million ($799 million) for the fiscal year that ended March 31.
The German giant also soaked up much of its red ink, cutting net losses from €144 million ($175 million) to €43.5 million ($55 million) for the period.
Revenues from broadband and telephony services were the drivers of KDG's growth, with Internet and phone subscriptions jumping 36% to just over 1 million compared with last year.
For the current fiscal year, KDG Is forecasting revenue growth of between 6.5%-7% and operating profits of between €715 million - €725 million ($867 million - $879 million).
KDG on Thursday received approval to list on Germany's MDAX technology index and will begin trading there June 21.