Telewest has completed its promised speed upgrades for its blueyonder broadband customers and announced its first quarter financial results.

The company's director of Internet services Chad Raube said: "We announced at the end of April that we'd be boosting the bandwidth of our services, for the same price, and I'm pleased to say we've now completed the upgrades in double quick time.

"We're still number one for broadband within our franchise areas and we're delighted to be providing high-speed services to nearly 500,000 customers."

The cable operator acquired 51,000 new broadband customers in the period. The company's acting CEO Barry Elson said: "We are building on our broadband leadership in our addressable areas and have 498,000 broadband Internet subscribers as at May 12."

The first quarter 2004 financial results show improved performance suggesting the company may be turning a corner: Its net loss fell from £187 million last year to £36 million this year with the company generating a group operating profit (before exceptional items) of £2 million compared to a £22 million loss in last year's first quarter.