By Sally Watson, 20 July 2001 08:55
NEWS Shares in cable company NTL rose almost 40 per cent on Nasdaq yesterday, as investors welcomed the company's unexpectedly strong second quarter results. Earnings before tax were £115m for the quarter, 34 per cent up on the previous three months. The company was keen to unveil the figures as concern over its debt mountain increases. It currently has about £700m in cash and is in debt to the tune of $17.4bn. Chief executive Barclay Knapp reassured investors and analysts on Thursday night that he believes the company has sufficient funding to reach a positive cash flow by the end of 2003.
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