UK-based Virgin Media, a television and telephony company, listed fourth quarter losses at £241.4 million, up from £163.2 million last year, Dow Jones Newswires reported Wednesday. However, the company contemplates a hopeful financial future, as the number of customers who are leaving Virgin is at a record low, bad debt is down and no-pay disconnections are down.

The UK's second largest pay-TV provider blamed the larger loss on impairment charges and foreign currency losses. During the ongoing financial crisis the strength of the sterling has suffered against the dollar and the euro.

However, given the economic climate, the raw financial results were foreseeable and both the company and analysts believe other figures are more revealing and hopeful. Churn, the number of customers leaving the service, was at an all time low at 1.2 percent, and gross on-net disconnections were down 11 percent from the previous year at 177,800, according to the Dow Jones report, posted by CNN Money.

"A GBP300 million repayment of our debt in the quarter, along with the amendment of our senior credit facility in November 2008, and our and our operational improvements mean Virgin Media today is a strong business with a stable foundation," Chief Executive Neil Berkett said in a statement, according to Dow Jones.

"The results are pretty predictable and when you put that in the context of this economic car crash, that's very good," one London-based analyst told Dow Jones.

Citi continued a buy recommendation on Virgin stock.