The company has forecast earnings before interest, tax, depreciation and amortisation of £485m, which it says it will meet. It also says it will achieve or exceed its fourth-quarter targets.
The company, which is in crisis as its debts top £12bn, had planned to sell its transmission business to reduce the debt, but this sale has been delayed after the business was undervalued by some £1bn to around half what NTL was hoping for.
The NTL board met in New York yesterday for what it described as "an ordinary quarterly" meeting, but was seen by industry insiders as crisis talks about the future of the company.
Today, Barclay Knapp, chief executive officer of NTL, said: "We had hoped to announce details of the broadcast transaction and the strategic options we are considering in continental Europe by the end of the year. Unfortunately, this is not the case, but our new plans allow us to continue to approach these alternatives with the goal of maximising shareholder value."
In a statement, NTL said it was working on a new business plan that "will result in incremental positive cash flow" compared with its previous estimates for 2002.
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