TalkTalk Group Q4 2014/15 results: Steady underlying growth

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TalkTalk Group Q4 2014/15 results: Steady underlying growth

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TalkTalk Group Q4 2014/15 results: Steady underlying growth
TalkTalk accelerated subscriber and revenue growth in the March quarter, but stripping out the effect of acquisitions we estimate that organic growth was roughly in line with the previous quarter.
Its EBITDA grew 15% for the 2014/15 financial year, but margin expansion reversed in H2, with lower gross margin and higher broadband marketing costs causing the damage.
The company’s 25% EBITDA margin target in 2016/17 continues to look challenging, but continued strong revenue growth and some margin expansion looks likely.