General Cable losses double

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The Independent Online
General Cable, the telecommunications and cable TV group, announced losses for the six months to June doubled to pounds 25.7m. Sir Anthony Cleaver, chairman, said the overall progress achieved in the first half "has been good in the face of a number of significant challenges".

The number of residential telephone lines connected increased by 27 per cent to 187,700, while business exchange lines connected rose by 53 per cent to 40,900. The number of cable television customers increased by 25 per cent to 156,000. However the net churn rate, the number of people deserting the group, jumped from 23 to 37 per cent.