Talktalk, one of UK’s leading telephone and broadband providers lost more than half of its profits as a direct result of a hack last October.
Profits plummeted from £32m the previous year to £14m this year. The drop in profits was mainly attributed to last year’s crippling which saw the company spending £42m to recover.
TalkTalk CEO, Dido Harding, said in an interview: “We have decided to invest more in the security of our company. This is something we now pay close attention to”
After the hack on their system, TalkTalk lost over 101, 000 users. The cyber attack led to the leaking of personal data for about 160, 000 people.
The hackers managed to access email addresses, names, phone numbers and 21,000 different bank account numbers and sort codes.
Six people have been arrested in connection with the hack All of whom are are individuals based in the UK, aged under 21.
The Come Back
Ms Harding told reporters the business had made a strong comeback in the previous quarter, a development she described as encouraging.
“Our subscribers have come back and this the result of our honesty and openness in dealing with the cyber attack,” she said.
She went on to add that customer defection has seen record low levels, an indication that customers are happy with the service.
TalkTalk reported revenue growth of 2.4% to £1.83bn in the 12 months leading to March 31st.
