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(Alliance News) - Bigblu Broadband PLC on Wednesday said its loss narrowed sharply in the first half of its current financial year, thanks to improving customer numbers.
The broadband services provider reported a pretax loss of GBP397,000 for the six months to the end of May compared to the GBP5.7 million loss reported a year earlier, thanks to lower network partnerships costs, which were reduced to GBP101,000 from GBP1.1 million.
Revenue meanwhile increased by 22% to GBP30.5 million from GBP25.1 million year-on-year, as average revenue per user increased 5.8% to GBP43.70 from GBP41.32. The total number of customers increased 5.3% during the period to 119,000.
"This was another period of expansion for the company as we successfully developed our routes to market and customer base," highlighted Bigblu Chief Executive Andrew Walwyn.
"We are extremely excited by the growth opportunities ahead and expect the strong demand for our solutions to increase further as we adopt new products with faster broadband speeds and unlimited download limits whilst driving down the cost of customer acquisitions and churn during the second half of the current financial year," added Walwyn.
Bigblu shares were trading 4.4% higher in London on Wednesday at 108.00 pence each.
