LONDON (Alliance News) - CityFibre Infrastructure Holdings PLC on Tuesday said its 2016 results are set to meet expectations, including a swing to adjusted profit, and it remains confident on its prospects in the UK broadband market.
CityFibre, which designs, builds, owns and operators fibre optic infrastructure in UK towns and cities, said revenue for 2016 will be around GBP15.0 million, while adjusted earnings before interest, tax, depreciation and amortisation will be around GBP2.5 million.
That would compare to revenue of GBP6.4 million in 2015 and an adjusted Ebitda loss of GBP2.9 million.
In 2016, CityFibre added 5,063 new connections to its network with a total contract value of GBP75.5 million. That compares to 1,100 connections worth GBP23.0 million in 2015.
CityFibre also increased the number of premises it served to 3,962, from 1,200 at the end of 2015.
The firm will publish its annual results on April 25.
Shares in CityFibre were down 1.0% to 50.50 pence on Tuesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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