I am a trader as well as an investor and hopefully this thread will reflect both aspects ....

We should start by saying this is a highly speculative share and the market takes no prisoners.

Over the last 18 months I made lots twice in the early days - then lost it back - bought a million at 2.6p average - founded the TAG - bought another half a million or so at sub 1p - sold most at average 4.25 - bought back at 2.2p and less - sold most at 3.5p and now buying back - overall a good net profit at this time.

I think the d4e will happen (say 90% chance) and the 3% currently talked about will give or should give a price equating to say 3/5p. Longer term on succcess of d4e and progress in the sales market the shares should move to around 10p - assumming markets are not in freefall.

I am looking to buy at any time and hoping for a war generated dip - when I do I will let you know.

The TAG site is a great place for catching up on the TWT news and I will post here as well.

Currently trading on TWT is light (1.7 million traded) and the price is down a littlw with a wide spread (2.01/2.35p). This is a sets share and you must expect a crtain amount of manipulation in these troubled times - FTSE down over 4% intraday

I have a core holding of at least half a million shares and intend to be a long term investor at this time.


ainsoph


http://www.investoraction.co.uk - currently we have 804 registered members holding around 100 million shares in total

Ains,

I have no interest in what opinion you have of me. I came onto this thread to talk TWT.

Nobody has convinced me to buy any.

see ya

Hmmmmmmmmmmmmm ...... no one is trying to convince you to buy any ..... personally, I hope you do not.

All I am saying is you make the same sort of comments almst word for word on ALL my threads on all the bb's ..... just seems a little pointless. I am bored - everyone is bored .... surely you must be bored by now?

In the meantime trading is exceptionally quiet today at 331K and spreads are wide ..... will look to buy around 210

ains

jeeeeze, you don't have a monopoly on the shares quoted on the LSE.

I follow many shares, foolish not to look in on them every so often as an active short term trader.

see ya ains..........

snap,
I have some TWT, two tranches actually, bgt. yesterday at 2.14p, and the rest ages ago,

ps I`m not bored its great fun

NOTIFICATION OF FIRST QUARTER RESULTS


Telewest Communications plc confirms they will be announcing their First Quarter
results for the period ended 31st March 2003 on Thursday 1st May 2003.

Hmmmmmmm ..... Tempus in the TImes is not impressed .... but the Times do own a huge huge chunk of BskyB ...... hmmmmmmmmmmm

You may wonder why they suddenly mention TWT in a lead article


ains




Telewest

SURELY it cannot get any worse for Telewest? Last year the cable company finally admitted that it had become overwhelmed by its debts, forcing it to try to reach agreement with its bondholders, who hold 3.5 billion in debt.

In January that appeared to have borne fruit. The bondholders agreed to swap their debts for 97 per cent of a reconstituted Telewest. In the weeks that followed a confident and credible management team talked of turning a profit later this year, once the financial restructuring was complete. With the shares at a cheap looking 2.15p investors might be tempted into a trading buy.

That, however, would be a mistake. The shares might be lowly in value, but they are not cheap. At yesterdays prices, Telewests bombed-out market capitalisation is 62 million. Shareholders are due 3 per cent of the new company, implying a value of a shade over 2 billion for Telewest mark two. Compare this with BT, which unlike Telewest pays a dividend. BT has 28 million residential and business customers and is valued at 16 billion. Each BT customer is worth 571; yet each of the new Telewests 2.2 million customers would be worth 909.

Nor can investors assume that the restructuring will take place on the terms outlined. Managements winter confidence has dissipated as negotiations with the bondholders are dragging on. Not everybody is content with the 97:3 split because even that measly proportion leaves a lot for shareholders. The ratio will probably hold, but the actual market value of the reconstituted company is likely to be well under 1 billion.

Finally, there is a strategic problem. Between BSkyB, in which The News Corporation, parent company of The Times holds a 35.4 per cent stake, and BT, UK cable NTL and Telewest lacks scale. The two need to come together to match their competitors better. But that will not be on the agenda for months. Avoid.

Ticking up at this time


LONDON (AFX) - NTL Inc and Telewest Communications PLC said in a joint statement that they have over 1 mln cable broadband customers across the UK.
newsdesk@afxnews.com

Cable guys celebrate 1m broadband milestone

London, April 30 2003, (netimperative)



by Chris Lake

Cable network operators NTL and Telewest today announced that they have amassed a combined 1m cable broadband users.


The news comes just six months after it was revealed that overall broadband subscriptions surpassed the 1m mark. It is now estimated that there are about 1.5m residential broadband subscribers in the UK.

The cable operators, which are expected to merge in some shape or form, have been working together to co-promote broadband services to residential customers.

The two companies attracted about 250,000 new broadband users since the beginning of the year. NTL had about 500,000 subscribers in December, double that of Telewest, the smaller of the two operators.

Some 12m households are capable of receiving cable broadband. The cable operators claim that three out of four consumers that have the choice between cable broadband and ADSL choose the former.

However, NTL is something of a serial offender as far as the Advertising Standards Authority is concerned, having recently been rapped on the knuckles for the umpteenth time regarding misleading advertising campaigns.

The ASA found NTL in breach of its code of conduct after it marketed a "High Speed" 128Kbps service as 'broadband', despite it being only twice as fast as most dial-up services.

NTL stood up to the ASA by presenting documents that originated at OFTEL and the DTI, which defined broadband as "a service of 128Kbps or above". ASA upheld its ruling by suggesting that most consumers would consider 'broadband' to be a service that offers speeds in excess of 500Kbps.

Nevertheless, the 1m cable modems that NTL and Telewest have distributed around the UK back up NTL CEO Barclay Knapp's claim that the cable industry is playing a key part in making Broadband Britain a reality.

He said: "The history of Broadband Britain will show that the cable industry drove its

development." His counterpart at Telewest, MD Charles Burdick, described the news as a "significant milestone".

E-commerce Minister Stephen Timms said: "The challenge now is to extend this choice to users across the UK, and particularly in rural areas. So that no matter where we base our businesses and make our homes, we can all benefit from the significant benefits that

1st quarter results are out today



LONDON (AFX) - UK cable TV, broadband and telecom operator Telewest Communications PLC posted a 15 pct rise in first-quarter EBITDA but saw more customer losses in the first quarter.
"The focus on broadband, cash generation and profitable customers meant that, as expected, we experienced customer losses during the quarter," said chief executive Charles Burdick.

"Nevertheless, household churn has fallen and with the reinvigoration of our marketing, especially around TV, we plan to see a return to customer growth in the second half of the year," he added.

As a result of the continuing improvements in gross margin and cost control, the group's EBITDA rose 15 pct to 105 mln stg.

Total turnover, including its share of UKTV (a joint venture with the BBC), for the quarter was 335 mln stg, flat compared with the first quarter of 2002.

The company cut a further 100 jobs, taking its workforce to 9,080 from 10,668 a year ago. Net loss for the quarter was 184 mln stg, reflecting 36 mln stg in bank interest, 81 mln stg accrued bond interest and 48 mln stg of foreign exchange losses on dollar-denominated debt.

The company, in the midst of a 3.5 bln stg debt for equity swap, said talks are continuing with its creditors

HIGHLIGHTS

- Broadband leadership; 310,000 broadband subscribers
- Record EBITDA of 105m; up 15% on Q1-02
- Capex down by 48% year-on-year
- Generated positive cashflow
- Customer profile improving despite subscriber losses
- Financial restructuring discussions continue

Commenting on the results, Charles Burdick, managing director of Telewest
Communications, said:

'Our efforts to accelerate cash generation, profitability and provide a platform
for future growth resulted in a cashflow positive quarter. We also achieved
record EBITDA and EBITDA margin and sharply reduced capital expenditure.

We continue to provide broadband leadership. With 310,000 broadband subscribers
in our addressable areas, we are the clear market leader with aproximately 80%
market share. Broadband customers typically take the triple play bundle and
churn less, and a large proportion are new to Telewest. Our 1Mb broadband
service is also proving popular with 10% of our broadband base, and we will
launch 2Mb and wireless self-installation broadband later in the year.

The focus on broadband, cash generation and profitable customers meant that, as
expected, we experienced customer losses during the quarter. Nevertheless,
household churn has fallen and with the reinvigoration of our marketing,
especially around TV, we plan to see a return to customer growth in the second
half of the year.'

Financial Restructuring

As previously stated, on 30 September 2002, we announced that we had reached a
preliminary agreement relating to a financial restructuring to cancel
approximately 3.5 billion of debt in exchange for equity representing 97% of
the enlarged issued share capital.

Productive negotiations are continuing with bondholders, senior lenders and
certain other major stakeholders and we will make an announcement about the
progress of the Financial Restructuring when appropriate.

Market seems happy ..... new recent high - up 17% intraday


AFX-Focus) 2003-05-01 08:06 GMT: Telewest posts 15 pct rise in Q1 EBITDA - UPDATE
(Adds broadband figures, capex, customer numbers)
LONDON (AFX) - UK cable TV, broadband and telecom operator Telewest Communications PLC posted a 15 pct rise in first-quarter EBITDA but saw more customer losses in the first quarter.

"The focus on broadband, cash generation and profitable customers meant that, as expected, we experienced customer losses during the quarter," said chief executive Charles Burdick.

"Nevertheless, household churn has fallen and with the reinvigoration of our marketing, especially around TV, we plan to see a return to customer growth in the second half of the year," he added.

As a result of the continuing improvements in gross margin and cost control, the group has improved EBITDA by 15 pct to 105 mln stg.

Total turnover, including its share of UKTV, (a joint venture with the BBC) for the quarter was 335 mln stg , flat compared to the first quarter of 2002.

The company cut a further 100 jobs, taking its workforce to 9,080 compared to 10,668 a year ago.

Net loss for the quarter was 184 mln stg, reflecting 36 mln in bank interest, 81 mln accrued bond interest and 48 mln of foreign exchange losses on dollar denominated debt.

The company, in the midst of a 3.5 bln stg debt for equity swap, said talks are continuing with its creditors.

At March 31, net debt stood at 5.317 bln stg.

Telewest cut capital expenditure by 48 pct to 65 mln stg in the quarter, 20 pct of revenue.

The company said its full-year capital expenditure for 2003 will be substantially lower than the 477 mln stg incurred in 2002.

Net broadband additions in the first quarter were 37,000. At the quarter end, the company had 299,000 Blueyonder broadband subscribers, a growth of 14 pct since the end of last year.

At April 30, the company boasted 310,000 broadband subscribers, of which 31,000 or 10 pct took the 1Mb service.

8:25am (UK)
Telewest Earnings Lifted by Cost Cuts

By John Bingham, City Staff , PA News


Debt-laden cable company Telewest today posted record first quarter underlying profits after slashing spending.

But the group offered no fresh news on the progress of negotiations on restructuring to cancel 3.5 billion of debts.

Telewest, which has total debts of 5.32 billion, said in September that it had reached a preliminary agreement on the overhaul a plan that involves a debt-for-equity swap leaving shareholders with a fraction of the firm.

Issuing its results for the first three months of 2003 today, the group added that positive negotiations were continuing and promised an announcement on the restructuring when appropriate.

Turnover in the first quarter of this year was up slightly on the same period last year at 335 million with underlying profits up 15% at 105 million.

Telewest said the total number of household customers fell by 15,000 during the quarter in line with its expectations as the business concentrates on higher margin activities such as broadband high speed internet services.

Growth of 14% in broadband subscribers pushed up internet revenues by 63% to 26 million.

Capital expenditure was slashed by 48% to 65 million or 20% of revenue while general and administrative expenses were cut by 7% to 118 million as a result of measures, including a 100-strong reduction in headcount.

However, interest costs and write-downs meant the companys net loss for the the three month period rose to 187 million from 166 million a year earlier.

Managing director Charles Burdick said: The focus on broadband, cash generation and profitable customers meant that, as expected, we experienced customer losses during the quarter.

But he added that with an increased emphasis on marketing the group planned to see a return to customer growth in the second half of the year.

ainsoph

Your regular reporting of relevant news is much appreciated. Keep up the good work!

jaffa

I`ve left a limit buy in place good for a month,@1.8p, could get picked up after the results "euphoria",( hah,) wears off

"Telewest said the total number of household customers fell by 15,000 during the quarter in line with its expectations as the business concentrates on higher margin activities such as broadband high speed internet services."

what an odd statement - once the box is installed all customers are high margin, the business is mainly fixed in costs so need high subscribers

are the management really saying that they couldn't have sold these users higher margin goods as well?

It's no good selling a product if the punter ca'nt pay for it, or thats the way I read it.

Thats about it - TWT had a problem with bad debts from peeps without plastic - they now insist all new customers start off paying with plastic. The high churn rate came from these 'down market' customers


ains

LONDON (AFX) - Charles Burdick, managing director of cable TV, broadband and telephony company Telewest Communications PLC, said he was now "more bullish" about turning cashflow positive from the last quarter of this year.
"I think I am much more bullish and encouraged that we will be able to achieve this in the fourth quarter," Burdick told reporters on a conference call.

In February, Burdick said the company aimed to turn cashflow positive by the year end, six months ahead of its original forecast.

Earlier the company said it had generated positive cashflow in the first three months ended March 31, 2003.

The company, which saw more customer cancellations in the quarter, plans to become cashflow positive through tight cost control, pushing growth in broadband customers and cutting its capital expenditure (capex).

Telewest posted a 48 pct fall in capital expenditure to 65 mln stg for the first quarter. Last year the group invested 477 million stg.

"General guidance on capex has been in the mid-3's(100s)," said Burdick.

Debt laden Telewest gave no update on its financial restructuring, which will see bondholders take control of 97 pct of the company in return for cancelling 3.5 bln stg in debts.

"We are making significant progress across all fronts," said Burdick.

"But we do not want to put a timeline on any completion, we are more comfortable with that approach than setting timelines that are historically missed," said Burdick, adding that the talks are complex. tim.farrand@afxnews.com

have they defaulted on the bond coupons now or are they still paying them?