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Talk Talk Fundamentals (TALK)

Ex Dividend this Wednesday 3rd July 6.95p.

Interim Management Statement

Interim Management Statement - First Quarter FY 2013/14

· Second successive quarter of year-on-year revenue growth (+1.7%)
· Third successive quarter of positive net adds growth (+8,000)
· 390,000 TV customers at end of quarter with increasing momentum through quarter
· On-net churn reduced to 1.4% (Q4 FY13: 1.5%)
· Reiterating FY14 guidance and on track to achieve medium term financial targets

Financial Highlights

· Total revenue up 1.7% to £421m (Q1 FY13: £414m)
· On-net revenue up by 7.4% year-on-year to £306m (Q1 FY13: £285m)
· Corporate revenue £80m (Q1 FY13: £80m)
· On-net ARPU up by 4% year-on-year to £26.28 (Q1 FY13: £25.27)

Operating Highlights

· 24,000 on-net net adds (Q4 FY13: +30,000)
· 160,000 TV customers added (Q4 FY13: +150,000), taking base to 390,000
· 27,000 new mobile customers added, taking base to 202,000
· 22,000 new fibre customers added, taking base to 95,000
· 28% growth year-on-year in data products revenues at TalkTalk Business

Espirito Santo Execution Noble Buy 245.30 239.60 140.00 340.00 Upgrades

You seem to like this one skinny! It's a bit of a quirky company, imo. I have met quite a few people who have signed up with them in the past but have received poor service and have quickly changed to another provider. I wonder if they are constantly attracting new customers with cheap deals but then losing them through poor service and deal expiries. I see their net churn is (apparently) quite low and the guys I know who have changed have not been on the fibre network, so maybe the service is improving.

Harry - I've been with them for 3 months now (via AOL) and so far, so good (KOD!!)

I saw Dido Harding recently on Tv and she came across very well, so time will tell - I only have a small holding, but looking to add.

Do AOL still have their own e-mail software? I remember way back when Windows had huge problems with AOL compatability!

Its now web based - much like any other ISP that I've seen. so now familiar and very easy to use.

Just put AOL in the search box and you get this - this.

The application based version from the day dot, had to be installed and as you intimate, took residence on your machine and as such, became an issue if you wanted to uninstall or move to a new machine.

But times have changed and finally, so has AOL.

I doubt anyone still uses the application based version.

MIDAS: Woman jockey boss Dido Harding whips TalkTalk back into shape

By Joanne Hart, Financial Mail On Sunday

PUBLISHED: 22:07, 27 July 2013 | UPDATED: 22:07, 27 July 2013


TalkTalk Telecom Group is one of those companies that people love to hate. Demerged from Carphone Warehouse Group in 2010, the early days of independence were decidedly rocky – customers deserted in droves and complaints about poor treatment abounded.


Three years on and chief executive Dido Harding is still working on customer service, but the situation has improved significantly. Customer numbers are rising, they are taking more services and profit margins are increasing.


At 2433⁄4p, the shares offer plenty of potential as Harding continues to turn round the business.


It's good to TalkTalk: Chief executive Dido Harding is savvy and focused

TalkTalk was set up by Carphone Warehouse founder Sir Charles Dunstone, who remains a 32 per cent shareholder and chairman of the business.


The company grew rapidly in the first decade of this century, snapping up AOL’s UK broadband business in 2007 and Tiscali’s UK operations two years later.


These acquisitions helped to make TalkTalk one of the leading phone and broadband companies in the UK, but they also brought considerable challenges, as the group struggled to integrate different systems and processes and keep its customers happy.


Harding, previously head of Sainsbury’s convenience stores, was recruited to bring some retail expertise to TalkTalk and most of the past three years have been spent trying to make the company better at delivering phone and broadband services and better at dealing with customers.


While improvements to the service remain a priority, TalkTalk is also beginning to focus on growth and late last year launched a mobile phone offer and a TV service.

Take-up of these new offerings has been enthusiastic. The group already has 390,000 TV subscribers, with 160,000 customers joining in the past three months alone. There are also more than 200,000 mobile users and a growing number of customers taking several services from the group.


This is where Harding hopes to make most progress. As virtually any business will acknowledge, the more involved customers become with a company, the less likely they are to abandon it and the more they are likely to spend with it.


TalkTalk has four million customers and hopes that over the next few years, three million of them will take the TV offer and around 700,000 will opt for the mobile phone service, too.


In the meantime, Harding last week said trading in the three months to June 30 showed more customers signing up to TalkTalk, while revenue per customer grew 4 per cent to £26.28 a month. The group’s business division is also growing and recently acquired supermarket chain Iceland as a customer.


Harding expressed confidence about the future and pointed out that people are staying longer with the group and spending more than they used to on TalkTalk services.


As a sign of optimism about group prospects, TalkTalk raised its dividend 15.6 per cent to 10.4p last year and Harding hopes to deliver similar increases this year and next. Some analysts are even hoping for a special dividend as the group generates lots of cash, it cut overheads by £25 million last year and it expects more cost-savings this year.


Midas verdict: The phone, TV and broadband sector is dominated by four players: BT, Sky, Virgin and TalkTalk. Within this group, TalkTalk sees itself as the value-for-money operator, aimed at people who want to phone friends and family, be connected to the internet and watch television but do not need top-speed broadband and do not want endless TV channels.


This differentiation is serving the group well and should deliver growing sales and profits over the next few years.


Harding is savvy and focused, customer service is improving and costs are coming down.


The shares are a buy.

Horses, rats and pigs all play a part in Dido Harding’s colourful life

Dido Harding is not your average chief executive. The daughter of Lord Harding and granddaughter of Desert Rats commander Field Marshal John Harding, she was raised on the family pig farm in Dorset, before going to Oxford to read philosophy, politics and economics.


Although smart and ambitious from the start, Harding’s first love was horses and she spent her early years combining business with a career in the saddle as a jockey. In 1998, a horse she owned, Cool Dawn, won the Cheltenham Gold Cup.


Although now retired from steeplechasing, Harding, who is 5ft 2in, remains a passionate rider over flats and will take part in the Goodwood Ladies’ race on Thursday. She is also a member of the Jockey Club.


Her career has been equally impressive away from the racetrack. Having started out at top management consultancy McKinsey, she went to Harvard Business School and then moved into retail.


She joined Tesco and became a director, and in 2007 switched to Sainsbury’s as a board member.


She was lured to TalkTalk by John Gildersleeve, a colleague from her Tesco days.


Harding is married to Tory MP John Penrose and has two young children.

I wish! :-)

"At 2433⁄4p, the shares offer plenty of potential as Harding continues to turn round the business. "

Morgan Stanley Overweight 249.65 280.00 280.00 Reiterates

250 has been both support & resistance over the last 6 months.

250 cleared for now.

Looking for 260.

J P Morgan Cazenove Overweight 258.25 225.00 300.00 Upgrades

Another assault on 260.

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And again.

JP Morgan Cazenove Overweight 243.80 243.70 300.00 350.00 Reiterates

This is such a frustrating stock to trade, but added on Friday on the spreads @ 250.7 target 270.0 stop 243.0. If I get stopped out it's in the bin.

Better volume today.

skinny - fingers crossed 260.0 now history :O)

Bought these this morning after seeing skinnys 2 chart posts on chart thread VOD and BT.

Was hoping for breakout.

Cheers Skinny.

Having a second go at getting over 270.0 today, need more volume.

That will do for now target hit, out the spreads @ 270.0 + 19.3

Well done Chris.

Cheers skinny.

12 Nov 2013 Interim results.

Must admit skinny tempted to get back in on the spreads target 380.0 leading up to results. Waiting to see how day pans out, suspect bit of profit taking month end accross the board, if Talk drops below 260.0 will be in. You still long?

I've just gone long again - SB this time.

Good luck mate, got a feeling wont be long before I join you :O)

Back in on spreads long @ 265.0

Your dreams have come true from post 10 skinny. That's the midas touch. lol

TalkTalk’s focus on the cheap end of the pay-TV market is a winning formula, the Sunday Times’s Danny Fortson wrote in his Inside the City column. When it reports half-year results on November 12th analysts will be looking out for how its new ultra-budget Essentials package has performed. Barclays expect Essentials to fire up boss Dido Harding’s plan to replace dwindling revenues from voice calls and broadband. Its analysts forecast 1.7m more accounts by the end of 2015. Some of the TalkTalk’s prospects are already in the share price but Barclays expects them to rise to 320p from 248½p. There is plenty more for Harding to aim for.

http://sharecast.com/news/sunday-share-tips-talktalk-fyffes-halfords/21282650.html

Interim Results for 6 months to 30 September 2013

· H1 EBITDA1 £76m in line with expectations, reflecting an additional £86m investment in growth
· Strong and accelerating TV growth (+167,000 net adds in Q2); now expect y/e base of nearly 1m
· Continuing growth in broadband net adds (+5,000) and ARPU drive Q2 revenue growth of 1.9%
· Raising FY revenue growth guidance to at least 3% from 2%
· Raising medium term revenue growth target to 4% CAGR (FY14-FY17) from 2%
· Targeting 25% EBITDA margin by FY17
H1 Financial Highlights
· Total revenue up 1.8% to £843m (H1 FY13: £828m)
· On-net revenue up 6.8% to £612m (H1 FY13: £573m); Corporate revenue up 1.3%
· Headline EBITDA1 £76m (H1 FY13: £147m) after £86m investment in scaling new products
· Headline1 EPS 0.8p (H1 FY13: 7.8p);
· Interim Dividend 4.00p (H1 FY13: 3.45p)
Q2 Operating Highlights
· Q2 on-net ARPU up 2.8% to £26.08 (Q2 FY13: £25.37)
· 56,000 fully unbundled net adds; total net adds 5,000
· 167,000 TV customers added, base now 557,000; Essentials TV launched
· 34,000 Mobile customers added; 47,000 Fibre customers added
· On-net churn 1.7% (Q1: 1.4%)
· Continued improvement in call volumes and Ofcom complaints
· Corporate revenue +2.5% including 26% growth in Data revenues
1 Excluding exceptional items and amortisation of acquisition intangibles

Goldman Sachs Buy 264.05 310.00 310.00 Reiterates

Stop to entry on spreads for a risk free trade, if it can stay above 270.0 looking good.

Credit Suisse Outperform 275.50 275.00 275.00 Reiterates

Stop to 275.0 to lock in +10

By James Quinn

8:30PM GMT 16 Nov 2013

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CommentsComments





Dido Harding isn’t taking the threat from BT lightly. Just a week after her telecoms rival snatched Champions League rights from BSkyB, the TalkTalk Telecom Group chief executive admits she is closely monitoring its progress. But she isn’t overly concerned, either.


“We are counting down the days,” she grins when asked if the company she has led since just before its initial public offering in March 2010 has any real rivals in the digital television space.


“There’s a small sweepstake in the office to the day on which we have more customers than BT. It’s not very far away. They were at about 900,000, and then they added 70,000 in the last quarter, but we added 167,000, so we’re catching up fast and expect to add more.”


Despite not having flashy football rights, the FTSE 250 broadband, phone and television company has now amassed slightly more than 500,000 TV customers with its digital offering, and hopes to have 1m by the year-end.


In TV, she points out, TalkTalk added more customers than BSkyB, BT and Virgin put together in the last quarter. The hype surrounding BT Sport has helped. “Because of all the noise around football, lots of people noticed that you’ve got all these TV platforms, and so for our TV business that was a really good thing.”



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TalkTalk launched its YouView-based TV and video on-demand service in the summer of 2012. Rather than charging extra, customers who take its £7.50-a-month broadband and phone package are given a box allowing them to watch 70 digital channels.

Unlike Freeview, however, it also offers the ability to “catch up” programmes from the past seven days, stream on-demand services such as BBC iPlayer or 4OD through a television, as well as buy individual films or subscribe to a specific channel – such as Sky Sports – for a month or more.

To date, 25pc of customers have paid for either a channel, a film or a bundle of channels.

Explaining why the service is increasingly popular, Harding references her own home life. Married to John Penrose MP, a Conservative whip, she finds it hard to watch The X Factor, which TalkTalk has sponsored since before its split from Carphone Warehouse.

“He won’t let me watch it, and so I have to watch it on 'catch-up’ as he works late on a Monday,” she says. “I read that 70pc of all TV viewing minutes are viewed by women, and it rings true.

Women watch a lot less football. If you could pick any programme on free-to-air TV to run ads on, it would be Strictly, The Great British Bake-Off or The X Factor, it wouldn’t be a football match.

“Any family will tell you that’s the key content, and that’s what you see with our customers. Whereas our competitors are busy slugging it out at the premium end. You have to keep remembering there’s a huge expanse of the country that isn’t interested in football.”

Although Harding, the 46-year-old granddaughter of Second World War hero Field Marshal Sir John Harding, may be tongue in cheek at times about her competitors, the launch of BT Sport has not been without its problems. Despite the fact that TalkTalk’s offering is pitched at a different type of customer, it did hurt it initially.

“We did see the broadband churn – the amount of customers leaving – spike literally around the first few weeks of the football season,” she admits, putting it down to an initial misunderstanding of pricing.

“We saw churn spike in those weeks – we’ve seen it come down since then, we’re not that worried,” she continues.

The challenge for Harding is to now leverage the customers it does have into spending more through its TV service. “We’re looking forward as a business to our first proper Christmas. I know that sounds strange, but I’m a retailer,” she says, reflecting on her decade-plus at Tesco and later J Sainsbury.

“For the first time, we’ve now got over half a million customers who’ve got our TV service, which we think can give them a wonderful Christmas. So we’re starting to get into our heads what are the blockbuster movies we’re hoping to remind our customers of on Christmas Eve.”

Her aim, as with all TalkTalk’s products, is to offer value-for-money distribution products. Across the business, TalkTalk has 4m customers, but the ultimate goal is to get each to sign up to each one of its four products – fixed-line phone, broadband, mobile and TV – known as “quad play” in the industry.

Its fledgling mobile phone offering began selling Sim cards 19 months ago and basic handsets just over a year ago, and now has in the region of 250,000 customers.

It is aimed at basic customers – such as 11-year-olds starting secondary school – but is proving to be successful in marketing terms.

“If customers take mobile as well as broadband and phone, they’re much more likely to recommend it to their friends, and that’s making us more confident that there is a quad play market there,” she said.

Such recommendations are crucial for TalkTalk, which Harding says spends £20m on advertising a year, against the £20m BT and BSkyB each spent in August alone.

“We spend our 'advertising’ money on actually being the right price for customers. As a value-for-money business, it’s better to spend money to give it to customers, rather than spend it on lots of TV ads.”

Keeping customers onside is key to TalkTalk, given its reputation for complaints with regulator Ofcom, which spiked in 2011 when the business was fined £3m for incorrectly billing tens of thousands of customers for services not received.

TalkTalk has often been highlighted by Ofcom during the past four years, when every three months the regulator publishes its complaints data.

“I’d be lying to say that hasn’t changed our behaviour – in the early days we were being properly shamed, and we did something about it and we know we’re not good enough yet, and we’re getting better each quarter,” Harding says.

As well as customer satisfaction, the other way she hopes to add to revenues – £843m in the first half of the year to September 30, delivering pre-tax profit of £7m – is through innovation.

“We expect next year to allow customers who can’t get a Freeview signal to get YouView by delivering all of the live free-to-air channels down a broadband connection,” she says, adding that in five years set-top boxes should be redundant, with saved content stored in the cloud.

Similarly, to woo fixed-line customers, TalkTalk has received permission to use an old slither of wireless spectrum, bought some time ago for a six-figure sum, to provide in-home 4G calls.

All the innovations are focused on adding customers: “We don’t have a dramatic ambition to grow our total customer base. Our opportunity is to give existing customers more, and as the numbers of customers coming online grows, that’s how we’ll add numbers.”














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Wee punt long on spreads in @ 271.9 target 290.0 tight stop.

Stopped out at the open, back on watch list.

Interim Management Statement

Interim Management Statement - Third Quarter FY 2013/14

· Strong acceleration in year-on-year revenue growth to +5.1%
· 110,000 net adds including 103,000 Post Office customers
· 175,000 TV customers added in quarter, taking base to 732,000
· On-net churn reduced as expected, from Q2 peak to 1.6% (Q2 FY14: 1.7%)
· Reiterating FY14 guidance and confident of achieving medium term financial targets

Financial Highlights
· Total revenue up 5.1% to £436m (Q3 FY13: £415m)
· On-net revenue up by 9.6% year-on-year to £320m (Q3 FY13: £292m)
· Corporate revenue up by 8.8% to £87m (Q3 FY13: £80m)
· On-net ARPU up by 5.2% year-on-year to £26.79 (Q3 FY13: £25.47)

Operating Highlights
· 107,000 on-net net adds (Q2 FY14: +34,000), including 84,000 Post Office customers
· 197,000 TVOD pay per view movies taken by TV customers (Q2: 123,000)
· 24,000 new mobile customers added, taking base to 260,000
· 35,000 new fibre customers added, taking base to 177,000
· 49% growth year-on-year in data products revenues in TalkTalk Business

Dido Harding, Chief Executive of TalkTalk commented:
We are delighted with the material step up in our revenue growth during the quarter, which shows the powerful effect of combining a modestly growing customer base, disciplined pricing and promotional activity, and strong new product growth particularly in TV. In TalkTalk Business, we saw a strong acceleration in data products growth and successfully migrated Post Office customers onto our network. As a result this has been another quarter of successfully delivering against our objectives; we are confident that we are building a business with strong and sustainable revenue momentum and growing profitability. We are on track to deliver our FY14 guidance and our medium term targets of 4% revenue CAGR (FY14-17) and 25% EBITDA margin by FY17.

There will be a conference call for analysts and investors starting at 8.00am

Credit Suisse Outperform 311.30 310.30 300.00 300.00 Reiterates

Chart doesn't look very inspiring. Full year preliminary results Thursday.

Left an optimistic limit buy on spreads @ 292.0

Nice spike, chart improving?

Preliminary Results

Preliminary results for the 12 months to 31 March 2014 (FY14)

· Over 1m TV customers at 12 May 2014; fastest growing TV business in the UK
· One of the fastest growing B2B telecom operators in the UK; FY Corporate revenues +5.6%
· 6th consecutive quarter of net adds growth (+10,000) delivers on-net base of over 4m
· 5th consecutive quarter of y-o-y revenue growth (+4.9%) delivers full year growth of 3.4%
· H2 EBITDA margin up 650bps to 15.5% (H1 9.0%); FY margin 12.3% (FY13: 17.4%)
· Dividend per share 12.0p (+15.4%) in line with commitment
· On track to deliver 4% CAGR in revenue and 25% EBITDA margin by FY17
FY14 Financial Highlights
· Total revenue up 3.4% to £1,727m (FY13: £1,670m); H2 +5.0% vs H1 +1.8%
· Corporate revenue up 5.6% to £340m (FY13: £322m): H2 +9.9% vs H1 +1.3%
· Headline EBITDA £213m (FY13: £290m) after £112m of incremental investment in growth
· Headline Earnings Per Share 6.8p (FY13: 14.9p); Statutory Earnings per Share 3.1p (FY13: 11.3p)
· Dividend Per Share 12.0p (FY13: 10.4p)
Q4 Operating Highlights
· Total revenue up 4.9% year-on-year to £448m (Q3 FY14: £436m)
· On-net revenue up 7.2% year-on-year to £327m (Q3 FY14: £320m)
· On-Net ARPU up 2.1% year-on-year to £26.93 (Q3 FY14: £26.79)
· Corporate revenue up 11.0% year-on-year to £91m (Q3 FY14: £87m)
· On-net net adds 25,000 (Q3 FY14: +107,000 including 84,000 Post Office customers)
· Accelerating TV growth; 185,000 TV customers added, taking FY14 closing base to 917,000
· On-net churn reduced to 1.5% (Q3 FY14: 1.6%)

Dido Harding, Chief Executive of TalkTalk commented:
I am delighted to report our first full year of revenue growth since demerger demonstrating that our strategy for growth is delivering. We have built a TV business with over one million customers in just 18 months - a quarter of our total customer base. We continue to grow faster than all the other UK TV operators put together and are confident that in time, all our customers will take TV. Our focus on data products for businesses is also delivering very strong growth and as a result, TalkTalk Business is one of the fastest growing B2B telecom operators in the UK.
Following investment in the first half, we delivered a sharp rebound in profitability in the second half combined with accelerating revenue growth. We are on track to deliver our financial targets by FY17, and are increasingly excited about the longer term growth opportunities beyond. As a result we are committing to another year of growing the dividend by no less than 15% in FY15.

Stop to entry for risk free trade.

Espirito Santo Execution Noble Buy 292.20 - 395.00 Reiterates

LATEST BROKER VIEWS

Date Broker New target Recomm.
16 May Barclays... 350.00 Overweight
15 May Credit Suisse 300.00 Outperform
15 May Espirito... 395.00 Buy
6 May Berenberg 220.00 Hold
2 May Berenberg 220.00 Hold
30 Apr Jefferies... 260.00 Hold
22 Apr Berenberg 220.00 Sell
22 Apr Nomura 330.00 Buy
17 Apr JP Morgan... 360.00 Overweight
16 Apr Barclays... 350.00 Overweight
Broker Recommendations for TalkTalk Telecom Group
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Creeping up nicely dc, moved my stop to 302.0 to lock in + 10

Had a go this morning to crack resistance @ 325.0

Moved stop to 316.0 to lock in + 24

Stop to 320.0 to lock in + 28

Breakout on the cards.

Will watch and use the 24 hour rule for confirmation before buying.

Fingers crossed gf, MACD looks a tad overbought but we live in hope.

Yep your right about MACD Chris so lets get a momentum chart up and see if its still got positive ADX........

ohh yep very nice look at the strength of the green and blue lines on ADX plus on the chart itself its riding on the 10 day EMA.

Momentum indicator hasnt caught up with the chart but its a lagger anyway.

Look at the increase in volume aswel.

Ill still give it the cofirmation rule but fingers up from me.

Trying again to break out albeit on low volume.

There is the breakout, find out tom how solid.

Noticed on the news this morning that BT are to hike their charges. Putting talk back on the radar, may have a dabble on Tuesday on watch list.

Similar chart, looks just as promising as TALK to be honest, place your bets :0)

Advertising on ITV (Encore) discount package.

Limit buy triggered this morn @ 302.95 initial target 320.0 (spread bet).

Unless Talk gets a wriggle on pretty sharpish, looks like I chose the wrong stock, should have gone long BT. :0)

Nice wriggle this morn.

Yep looking cool, i say cool, Chris.

Tue, 4th Nov 2014 12:33

TalkTalk has joined the likes of BT and Sky, announcing above-inflation price hikes for home phone and broadband customers, starting from 1 December.

TalkTalk has announced an increase of 4.7% to its landline costs, rising from £15.95 to £16.70 per month. Inflation is currently running at around 1.2%.

Customers who use the company's old "Plus" phone and broadband bundle contracts will see prices increase from £15.50 to £18.50, whilst customers with TalkTalk's Anytime UK calls boost will be forced to pay an extra £5 per month.

Those who are unhappy with TalkTalk's changes have been informed that they can "cancel by contacting the firm within 30 days of receiving their price notification letter". The company has also offered customers a free mobile sim card worth £90 for those hit hardest by the changes.

"Our customers are talking, watching, streaming and downloading more than ever, not just at home but on the go. To meet their growing needs, we're adding more to their packages. Mobile now comes as standard for our Plus customers, as we've included a free sim card worth £90.

"We're also introducing more ways for customers to save money on their bills each month. As we continue to invest in improvements to our service, some prices will increase. TalkTalk still remains Britain's lowest price, offering a saving of up to £184 a year in comparison to BT."

BT announced its price rise in August, whilst Sky followed suit with similar hikes last week. According to sources, Virgin Media are expected to increase their prices by around 6% later this month.

StockMarketWire.com
Goldman Sachs has downgraded its recommendation on TalkTalk Telecom Group (LON:TALK) to 'neutral' from 'buy', stating that the planned incremental spend in FY15 to acquire broadband / fibre subs will delay evidence of EBITDA margin growth.

The broker added: "With new competition from mobile players fixed launches, NT uncertainty is higher and FCF delivery lower - we downgrade to Neutral."

Nevertheless, analysts pointed out that the stock is up 47.9 per cent since being added to their 'buy' list, back in November 2012.

Price target trimmed to 419 pence a share from 435 pence.

Separately, Barclays Capital reaffirmed its 'overweight' call (target cut to 335 pence from 350 pence) in a note to clients, yesterday.

I'm surprised this lot have got a single customer left.

3rd Quarter Results

Q3 FY15 trading update

· Accelerating year-on-year revenue growth (4.2%), on track to deliver at least 4% in FY15
· Strongest growth ever in aggregate take-up of new products TV, mobile and fibre
· On-net churn reduced to lowest level in three years - 1.3%
· Corporate revenues up 8.0% year-on-year against strong prior year comparative
Q3 Financial Highlights
· Total revenue up 4.2% year-on-year to £449m (Q3 FY14: £431m1)
· On-net revenue up by 6.0% year-on-year to £334m (Q3 FY14: £315m1)
· Corporate revenue up by 8.0% to £94m (Q3 FY14: £87m)
· On-net ARPU up 2.6% to £27.05 (Q3 FY14: £26.371)
1 Prior year revenue adjusted to reflect exceptional item resulting from HMRC ruling on treatment of VAT
Q3 Operating Highlights
· 15,000 broadband; 50,000 mobile; 88,000 fibre and 115,000 TV net adds
· Strong response to launch of quad-play - over 11% share of SIM-only market in December
· New multi-year MVNO agreement with Telefonica UK to support quad-play growth
· Acquisition of Tesco broadband and blinkbox to accelerate development of TV proposition
· Commencement of fibre to the premise civil engineering work in York
Dido Harding, Chief Executive of TalkTalk commented:

"Today's results demonstrate the strong and growing demand for our value-for-money products, as we saw our strongest ever quarter of TV, mobile and fibre adds with our lowest ever reported churn.
We are excited about the future of quad-play. TalkTalk is ideally positioned to push home its strategic advantage in an industry undergoing major changes. Our customers recognise the significant savings they can make on all four products from TalkTalk. We have the largest unbundled network in the UK, a new long-term mobile access agreement, and one of the broadest ranges of film and TV content, all of which is underpinned by a pro-competition regulatory environment.
We remain confident in our plans for delivering sustainable growth and a more profitable business over the medium term, and remain on track to deliver our FY17 targets."
There will be a conference call for analysts and investors starting at 8.00am

Final Results

Preliminary results for the 12 months to 31 March 2015 (FY15)

· 4.2%* revenue growth in year, accelerating to 6.0% in Q4
· 1m new Revenue Generating Units added in FY15 (+20%) and lowest churn (Q4FY15: 1.3%)
· Continuing strong growth in Data revenues (+40%) driving growth in Corporate (+10%)
· Acquisitions of Tesco and Virgin broadband, blinkbox and tIPicall to drive future growth
· Dividend per share 13.8p (+15%) in line with commitment
· Raising revenue CAGR target to FY17 and beyond to 5%
· Raising cumulative efficiencies expected from MTTS by FY17 to £70m
· On track to deliver 25% EBITDA margin in FY17
FY15 Financial Highlights
· Total revenue up 4.2%* to £1,795m (FY14: £1,722m*)
· Corporate revenue up 10% to £375m (FY14: £340m)
· Headline EBITDA +15.0% to £245m (FY14: £213m)
· Headline Earnings Per Share up 21% to 8.2p (FY14: 6.8p)
· Statutory Profit After Tax up 157.1% to £72m (FY14: £28m)
*Statutory revenue after £5m exceptional VAT adjustment in FY14
Q4 Operating Highlights
· Total revenue up 6.0% year-on-year to £475m; Corporate +14.3%
· On-net revenue up 7.3% year-on-year to £351m; On-Net ARPU +4.6% to £28.18
· 47,000 phone and broadband net adds
· 83,000 fibre net adds; 66,000 Mobile net adds; 82,000 TV net adds

Dido Harding, Chief Executive of TalkTalk commented:
We have delivered on our revenue growth guidance as planned, and have exited the year with our strongest ever quarterly revenue growth of 6%, and our lowest ever level of churn. British consumers and businesses increasingly appreciate TalkTalk's value for money products, and we are focused on improving our customers' experience still further and growing our already flourishing quad play business.
We are upgrading our revenue CAGR target to FY17 to 5% and are on track to deliver our 25% EBITDA margin target in FY17. Beyond FY17 we expect to continue to grow revenues by at least 5% per annum and we are excited about the opportunities that building an ultrafast fibre network and scale inside out mobile network will bring.
We believe firmly that competition will drive the innovation and investment that Britain needs in this essential infrastructure and urge the respective regulatory bodies currently reviewing the various mergers and industry structure, to put strong competition at the heart of their decisions.

Jefferies International Underperform 352.50 260.00 260.00 Reiterates

RBC Capital Markets Sector Performer 352.50 420.00 410.00 Retains

Nomura Reduce 352.50 220.00 220.00 Reiterates

Barclays Capital Overweight 352.50 320.00 380.00 Reiterates

TalkTalk customer data at risk following 'significant and sustained' cyber attack

Police are investigating as the company says personal details including credit card details and bank details could be at risk



By Lexi Finnigan

10:25PM BST 22 Oct 2015

Follow





The credit card details of four million customers could be compromised following a “significant and sustained” cyber attack on the website of TalkTalk .


The hack took place on Wednesday and the company says that personal details of its four million customers including names, phone numbers and addresses, could be at risk.





Our website was subjected to a significant and sustained #cyberattack. There’s more information here https://t.co/yQK3Q73AjW
— TalkTalk (@TalkTalkCare) October 22, 2015


A spokesperson said: "A criminal investigation was launched by the Metropolitan Police Cyber Crime Unit following a significant and sustained cyber-attack on our website yesterday.


"That investigation is ongoing, but unfortunately there is a chance that some of the following data has been compromised: names, addresses, date of birth, phone numbers, email addresses, TalkTalk account information, credit card details and/or bank details.






"We are continuing to work with leading cyber crime specialists and the Metropolitan Police to establish exactly what happened and the extent of any information accessed."

The spokesperson added it was "too early" to tell whose data had been breached.

Chief executive, Dido Harding, said: “We take any threat to the security of our customers’ data extremely seriously and we are taking all the necessary steps to understand what has happened here.”



TalkTalk was informing its customers immediately about the attack as a precaution, she added.

Ms Harding said the website was now secure again and the company had also contacted the major banks asking them to monitor for any suspicious activity on customers' accounts.



She said that every customer would also be getting a year's free credit monitoring.

A Met Police spokesman confirmed they were investigating an allegation of data theft.

He said: “There have been no arrests and enquiries are ongoing."

It is the third time in the past 12 months that TalkTalk customers have been affected by data breaches.

What about debit cards ?

I'm a Talk Talk customer, but as yet, I've had no email from them - anyone else?

skinny,
Expect you've had your email by now, just received mine.

Thanks - nothing as yet.

We are very sorry to tell you that on Thursday 22nd October a criminal investigation was launched by the Metropolitan Police Cyber Crime Unit following a significant and sustained cyberattack on our website on Wednesday 21st October. The investigation is ongoing, but unfortunately there is a chance that some of the following data may have been accessed:
• Names
• Addresses
• Date of birth
• Phone numbers
• Email addresses
• TalkTalk account information
• Credit card details and/or bank details
We are continuing to work with leading cyber crime specialists and the Metropolitan Police to establish exactly what happened and the extent of any information accessed.
We would like to reassure you that we take any threat to the security of our customers’ data very seriously. We constantly review and update our systems to make sure they are as secure as possible and we’re taking all the necessary steps to understand this incident and to protect as best we can against similar attacks in future. Unfortunately cyber criminals are becoming increasingly sophisticated and attacks against companies which do business online are becoming more frequent.
What we are doing:

• We are contacting all our customers straight away to let them know what has happened and we will keep you up to date as we learn more.
• We have taken all necessary measures to make our website secure again following the attack.
• Together with cyber crime experts and the Metropolitan Police, we’re completing a thorough investigation.
• We have contacted the Information Commissioner’s Office.
• We’ve contacted the major banks, and they will be monitoring for any suspicious activity on our customers’ accounts.
• We are looking to organise a year’s free credit monitoring for all of our customers and will be in touch on this in due course.
What you can do:

• Keep an eye on your accounts over the next few months. If you see anything unusual, please contact your bank and a_ction Fraud as soon as possible. Action Fraud is the UK’s national fraud and internet crime reporting centre, and they can be reached on 0300 123 2040 or via http://www.actionfraud.police.uk
• If you are contacted by anyone asking you for personal data or passwords (such as for your bank account), please take all steps to check the true identity of the organisation.
• Change the password for your TalkTalk account and any other accounts that use the same password.
• Check your credit report with the three main credit agencies: Call Credit, Experian and Equifax. Noddle also allows free access to your credit report for life.
Please be aware, TalkTalk will NEVER call customers and ask you to provide bank details unless we have already had specific permission from you to do so.
TalkTalk will also NEVER:

• Ask for your bank details to process a refund. If you are ever due a refund from us, we would only be able to process this if your bank details are already registered on our systems.
• Call you and ask you to download software onto your computer, unless you have previously contacted TalkTalk and agreed a call back for this to take place.
• Send you emails asking you to provide your full password. We will only ever ask for two digits from it to protect your security.
We understand this will be concerning and frustrating, and we want to reassure you that we are continuing to take every a_ction possible to keep your information safe. If you have any questions, please visit http://help2.talktalk.co.uk/oct22incident for more information, or you can call us on 0800 083 2710 or 0141 230 0707.

Many thanks.

BBC news

Boy, 15, arrested in Northern Ireland over Talk Talk hacking attack, Scotland Yard says.

BBC news

Police make a second arrest, a 16 year-old boy from west London, in connection with Talk Talk hack.

Bored teenagers eh!!!! Don't you just love 'em?!!!!!

More questions than answers. Sign em up. Pretty scary really if true, picture the scene. Get's home from school half an hour to watch Blue Peter on the telly (is it still on?) while he eats his tea. Three hours on the play station destroying the world. Half an hour before bed let's hack a company and create havoc LOL!!!

Update

RNS


RNS Number : 8130E

TalkTalk Telecom Group PLC

06 November 2015








TalkTalk Telecom Group PLC



Update on cyber attack



Since the cyber attack on our website on Wednesday 21st October 2015, we have been working to establish exactly what happened and, importantly, understand the extent of any individual customer data stolen during this attack.



Investigations by both TalkTalk and the Metropolitan Police continue, and further to our update on Friday 30th October we are now able to confirm which customers were affected:

•The total number of customers whose personal details were accessed is 156,959;


•Of these customers, 15,656 bank account numbers and sort codes were accessed;


•The 28,000 obscured credit and debit card numbers that were accessed cannot be used for financial transactions, and were 'orphaned', meaning that customers cannot be identified by the stolen data.




Our ongoing forensic analysis of the site confirms that the scale of the attack was much more limited than initially suspected, and we can confirm that only 4% of TalkTalk customers have any sensitive personal data at risk. However, we continue to advise customers to be vigilant, and to take all precautions possible to protect themselves from scam phone calls and emails.



It was a difficult decision to notify all our customers of the risk before we could establish the real extent of any data loss. We believe we had a responsibility to warn customers ahead of having the clarity we are finally able to give today.



We have now contacted all customers who have had financial details accessed, reiterating our advice on what to do to keep themselves safe. The financial information accessed cannot on its own lead to financial loss. We will be contacting all other affected customers in the coming days.



We want to make customers aware that we will not call or otherwise contact them regarding this incident and ask for bank details or other financial or personal information.



Investors

Mal Patel: 0203 417 1037



Media enquiries

Clara Biu, TalkTalk: 0203 417 1259

Tulchan Communications: 0207 353 4200

talktalk@tulchangroup.com





Notes to editors



As previously confirmed:

•This cyber attack was on our website not our core systems


•We do not store complete credit and debit card details on the website; all card details had a series of numbers hidden and therefore are not usable for financial transactions e.g. 012345 xxxxxx 6789


•Personal details accessed include: name, address, date of birth, telephone number and email address


•TalkTalk My Account passwords were not accessed

Board Appointment

RNS

RNS Number : 2984F
TalkTalk Telecom Group PLC
11 November 2015

RNS Announcement

Wednesday 11 November 2015

For Immediate Release



TalkTalk Telecom Group PLC ("Company")

Board Appointment

The Company is pleased to announce that Roger Taylor will join the Board of the Company as a Non-Executive Director with immediate effect.

He is interested in 3,153,792 ordinary shares in the Company representing approximately 0.33% of the Company's issued share capital.

In accordance with paragraph 9.6.13 of the Listing Rules, Roger is currently a director of Dixons Carphone PLC and was a director of the Company from 20 January 2010 until 26 July 2012. The Company has no further information to disclose under paragraph 9.6.13 of the Listing Rules in respect of the appointment.



Further information:

Analysts and Investors: Mal Patel +44 (0) 20 3417 1037

Company Secretary: Tim Morris +44 (0) 20 3417 1652

-Ends-

TallTalk Telecom swings to H1 pretax loss

StockMarketWire.com

StockMarketWire.com
TalkTalk Telecom's statutory FY pretax profit has more than halved to GBP14m, from GBP32m, in the wake of last October's damaging cyber attack. This included GBP83m of exceptional items, from GBP46m a year earlier.

FY dividend was up 15% to 15.87p a share.

CEO Dido Harding said TalkTalk had bounced back strongly in the final quarter following the cyber attack in October.

"We recorded our lowest ever churn and stabilised the broadband base, testimony to the speed with which customer sentiment towards TalkTalk has recovered, the success of our greater focus on existing customers, and the growing benefits of our simplification programme," Harding said in a statement.

"We reported full year results in line with our guidance and have declared a 15% higher dividend for the year.

"TalkTalk is well positioned to build upon our already strong credentials as the UK's leading value for money quad-play and B2B operator. There has never been a clearer space for a trusted value champion and our learnings from and experience since the cyber attack have helped to focus our plans for the year ahead.

"We see strong opportunities for growth across all our products, both for consumers and for businesses, against the backdrop of an increasingly supportive regulatory environment. As a result we are reiterating our financial guidance for FY17 of £320m-£360m EBITDA."

Q4 OPERATING HIGHLIGHTS:
* On-net net adds flat; RGU growth +148k

* Mobile +90k (14.9% share of new SIM market); fibre +72k; TV -14k

* Lowest ever quarterly churn at 1.3%

* On-Net revenue flat year on year; ARPU +3.9%

* Corporate revenue -2.9% year on year against strong comparative; Data revenues +40.0%

Why is TalkTalk dropping?

Q3 trading update


· Success of Fixed Low Price Plans on track to deliver lower churn and positive net adds in Q4
· Short term impact on Q3 on-net performance, as expected
· Continuing strong trends at TalkTalk Business - Corporate (ex-Carrier) +3.0%
· Reiterating strong EBITDA growth in line with previous guidance
Success of Fixed Low Price Plans on track to deliver lower churn and positive net adds in Q4

We launched our innovative Fixed Low Price Plans in Early October. Our unique plans fix prices for the duration of customers' contracts, treat existing customers fairly by allowing them to re-contract onto the new plans, and give customers control of their bundles. The stronger than expected re-contracting rates that we saw in Q3 continued through January and are proving transformative for our brand reputation and business:

· 516,000 customers re-contracted on the 18m plan during Q3, representing over 13% of the on-net base at the end of Q3. An additional 81,000 customers have re-contracted during the first 4 weeks of January, of which over 75% have re-contracted on the newly introduced 24m plan
· Re-contracting customers have shown strong upselling activity with 20% choosing to buy voice calling boosts and 12% choosing to take fibre
· Encouragingly, over 45% of new customers chose to take fibre and over 40% chose to take a paid-for TV set top box
· Re-contracted customers are showing early-life churn rates of less than half the levels we have seen under historic re-contracting activity

As a result we expect to deliver positive on-net net adds and lower churn in Q4, with a stable and higher quality Retail base driving revenue growth during FY18.
Short term impact on Q3 on-net performance, as expected

As highlighted in November, the high levels of re-contracting and the re-pricing of our legacy tariffs has had a number of short term impacts on Q3 on-net revenue: heightened churn amongst legacy cohorts that were re-priced in line with our strategy of simplifying tariffs, driving on-net churn 1.6%; on-net net adds -42k, impacted both by churn and by lower new acquisition activity in October driven by our decision to launch integrated pricing a month earlier than the rest of the industry. These effects were partially mitigated by the positive impact of pricing activity on customers who have chosen to remain on legacy tariffs, and continued growth in fibre (74k net adds) and mobile (75k net adds) penetration, helping to limit the year-on-year decline in Q3 on-net revenues to 5.4% with ARPU of £28.05 (Q3FY16: £28.91).
Continuing strong trends at TalkTalk Business - Corporate (ex-Carrier) +3.0%

TTB has continued to show strong growth in high margin Data revenues, which were up by 30% in Q3, and helped offset the ongoing decline in legacy voice revenues (-19%). Excluding Carrier revenues which declined as expected, by 17% year-on-year, Corporate revenues grew by 3.0% (-3.2% including Carrier). We are continuing to grow market share with new partners looking to sell our Ethernet and next generation voice portfolio and have a strong forward pipeline across our Partner and Direct business in both the SoHo/SME segments and Enterprise segment in which we have a lower share than our competitors today.
Reiterating strong EBITDA growth in line with previous guidance
As previously indicated, the strong re-contracting activity, while delivering sustainable long term benefits in the form of a more stable and higher quality base, will impact current year revenue and EBITDA. As a result, we expect FY EBITDA to be in line with previous guidance. As previously announced we expect the Final dividend for FY17 to be unchanged year-on-year at 10.58p.

We have continued to drive improved cash flows during H2, and as a result year-end leverage (net debt/EBITDA) is expected to be below 2.5x. We have also continued to make good progress towards diversifying our sources of finance and extending the maturity of our facilities and in January, we refinanced £400m of our short dated bank debt through the successful issue of a debut 5 year public bond.

Q3 summary performance
Group revenue of £435m (FY16: £459m) comprised On-net £332m (FY16: £351m), Corporate £92m (FY16: 95m) and Off-net £11m (FY16: £13m). On-net net adds -42k (on-net churn 1.6%), mobile +75k, fibre +74k, TV -31k, Ethernet and EFM +2.3k.

END

Interim results for the 6 months to 30 September 2017 (H1FY18)

Strong growth momentum; acceleration in net adds

· Net adds +46k (H1FY17: -29k) with double-digit growth in both Retail and Wholesale bases; opportunity to step up investment in growth to deliver further strong net adds progress in H2
· Return to on-net revenue growth in Q2 (+1.3%)
· Continued reduction in churn to 1.3% (H2 FY17: 1.5%)
· 1.6m customers now on FLPP (31 March 2017: 1.0m) - over 50% of Retail base
· Strong growth in fibre (+161k) and TV (+19k); sustained growth in Ethernet base (+4.3k)
· Simple and compelling new mobile proposition to be launched in Q3
· Continue to explore co-investment opportunities in FTTP; begun build of further 40,000 homes in York
· Investment in growth to drive FY Headline EBITDA(1,2) towards lower end of £270m-£300m guidance
H1FY18 Financial Highlights
· Headline EBITDA(1,2) £95m, excluding MVNO loss (H1FY17: £144m excluding MVNO loss)
· Statutory operating loss £42m (H1FY17: £44m profit)
· Headline Revenue(1,2) -1.8% excluding Carrier (H1FY17: -3.4%; H2FY17: -3.1%)
· Statutory Revenue £856m (H1FY17: £902m)
· On-net revenue -1.1%; Corporate (ex-Carrier) +2.2%; Data +10.7 %, Legacy Voice -8.2%
· Headline(1,2) operating cash flow £46m (H1FY17: £-28m)
· Statutory loss before tax £75m (H1FY17: profit £30m); statutory EPS -7.5p (H1FY17: 2.2p)
· H1 dividend 2.50p (H1FY17: 5.29p); H1 Headline net debt/EBITDA(1,3) 2.88x (H1FY17: 2.51x)
Tristia Harrison, Chief Executive of TalkTalk commented:
"When we simplified and reset the business in May we said our priorities were growth, cash and EBITDA, in that order. The first half performance shows we are delivering on that plan. We have now delivered a third consecutive quarter of growth in our broadband base, with both Retail and Wholesale bases growing; returned to on-net revenue growth; and delivered lower churn than a year ago. Our clear value proposition is resonating strongly against an uncertain economic environment and underpins our plan to simplify and focus all our investment in delivering affordable, reliable fixed connectivity to both homes and businesses".
"We expect to step up our planned investment in growth in the second half, as we take advantage of the strong demand we are seeing for our fixed low price plans; fibre take up and affordable propositions in both our residential and B2B markets. Our revised strategy of focusing the business on fewer, clearer priorities is re-establishing TalkTalk as the value provider of choice in the UK fixed connectivity market."

(1) Headline measures represent trading results before adjusting items which are defined in note 1 to the interim condensed consolidated financial statements. The directors believe the presentation of the Group results in this way is relevant to an understanding of our financial performance, as adjusting items are identified by virtue of their size, nature or incidence. Further details regarding Headline measures are disclosed in note 1 to the interim condensed financial statements. Reconciliations between Headline measures and statutory reported measures are shown in notes 6, 9 and 10 to the interim condensed financial statements.
(2) Headline EBITDA excludes losses from MVNO proposition during the period of £7m (H1FY17: £14m). Headline Revenue excludes revenues from MVNO proposition of £28m (H1FY17: £33m).
(3) As calculated for the purposes of the Group's borrowings, see note 1 to the interim condensed consolidated financial statements.

Directorate Change

Board Appointment

The Company is pleased to announce that Nigel Langstaff will join the Board of the Company as an independent Non-Executive Director with immediate effect.

In accordance with paragraph 9.6.13 of the Listing Rules, Mr Langstaff is interested in 112,821 ordinary shares in the Company representing approximately 0.012% of the Company's issued share capital and was an Executive Director of Dixons Carphone PLC from 28 January 2010 until 6 August 2014. The Company has no further information to disclose under paragraph 9.6.13 of the Listing Rules in respect of the appointment.

Deutsche Bank Buy 114.25 170.00 180.00 Reiterates

Trading update https://www.moneyam.com/action/news/showArticle?id=6298190