TalkTalk has revealed that it lost 95,000 customers as a result of the cyber-attack on its customer database.
The MVNO used its third quarter trading update to inform shareholders that it had lost 101K customers in the past quarter, the vast majority of this departing because of the November attack.
It wasn’t all bad news for TalkTalk with revenue up 1.8% for the quarter. It also said that the free upgrade they offered customers in the wake of the attack was more successful than first expected with nearly half a million taking the deal.
Dido says trust’s improved
Giving her views on TalkTalk’s commercial performance CEO Dido Harding said that trust in the brand had actually improved since the attack, she said: ‘It is encouraging to see the business returning to normal after a challenging quarter that was dominated by the cyber attack.
'Our customers have responded well, with almost half a million customers choosing to take up our unconditional offer of a free upgrade. Both churn and new connections recovered during December and January and independent external research has revealed that customers believe that we acted in their best interest.
‘In fact trust in the TalkTalk brand has improved since just after the attack and consideration is higher now than it was before the incident. Looking forward, we expect to deliver a material step up in profits in H2, with full year results in line with market consensus.
'With a renewed focus on our existing customers and the benefits of our transformation programme, we expect to deliver a further material improvement in profits in FY17. As the value for money telecoms provider we are well placed to benefit from the current regulatory reviews in the sector and expect to see quad play driving sustainable long term growth.’