TalkTalk profits halve, thanks to cyber attack
Thousands of customers decided to leave TalkTalk after the huge cyber attack that occurred last October.
The company who announced they were ditching line-rental charges, have seen their profits halving after 160,000 customers' credit card and bank card details were exposed.
TalkTalk's profits were down to £14 million, which is a substantial drop compared to the £32 million they made a year previous. In total, since the breach, 101,000 subscribers had switched to another network.
Dido Harding, TalkTalk chief executive, said: "We have significantly increased our spending on security. We take this extremely seriously."
The company are working hard to regain trust in consumers, and Harding added that customer numbers are stabilising, which she think is "testimony to the fact that our customers really appreciated our open and honest approach".
As well as being clearer on line-rentals, TalkTalk offered all customers a free upgrade as compensation for the cyber attack.
It seems to be working, as the turnover of customers is currently at the lowest in the company's history.
What is important now, for TalkTalk and all other businesses, is that they take cyber security and customer's privacy seriously, as it is becoming a hot topic among consumers as they become more savvy in these matters.