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Thursday, October 16, 2014

Ziggo posts strong internet user growth in third quarter, (NASDAQ: LBTYA)

Dutch cable operator Ziggo said its core profit rose by 3.4 percent in the third quarter as the company managed to sell more high margin products such as internet access. The group, which on Friday received EU clearance to be bought by U.S. cable group Liberty Global, said broadband internet subscribers grew by 6.2 percent from the same period last year.Overall, the group made an adjusted core profit of 228 million euros ($292.25 million) in the third quarter, a 3.4 percent increase year on year.Ziggo repeated its 2014 guidance for adjusted core profit to be unchanged from last year's.(1 US dollar = 0.7802 euro)

Shares of LBTYA fell by 0.51% or $-0.21/share to $41.29. In the past year, the shares have traded as low as $37.98 and as high as $46.46. On average, 3039660 shares of LBTYA exchange hands on a given day and today's volume is recorded at 5841695.