From David Del Valle in Madrid

Spain's largest cable company, ONO, ended the first quarter of the year with a net profit of E17 million, up 39.4 per cent, on a lower total turnover of E372 million, down 4.1 per cent.

As of March 31, ONO had 1.904 million clients, of which 1.7 million are telephony clients, up 9,000 with a penetration rate of 23.9 per cent. Internet subs grew by 16,000 with a penetration rate of 19.1 per cent. TV subscribers amounted to 970,000 (down 5,000), representing 53.2 per cent of all its customers.

The company has just over 7 million passed homes and increased its Capex by 21.8 per cent up to E62 million in the first quarter deploying DOCSIS 3.0.

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