Nice and Easynet does it
Out of the red and into the black for fiscal 98
Easynet Group reported its first profit after announcing that its turnover last year increased by 128 per cent to £17.0 million (1997 £7.4m). Revenues from corporate customers were up 143 per cent to £11.2 million (1997 £4.6m) and dial-up revenue climbed 107 per cent to £5.8 million (1997 £2.8m). Reporting pre-tax profits of £143,000 -- compared with a loss of £1.3 million last year -- chairman David Rowe said: "1998 has been a landmark year for the company. "We moved into profitability in the second half of the year on the back of rapidly growing revenues. Corporate and consumer sectors have performed extremely well, and the move into telecommunications to strengthen the company's network has proved very successful. "It's helped underpin the Internet dial product in the UK by generating a revenue stream from call minutes," he said. Rowe added that he anticipates significant growth in data traffic across its network in 1999 both in the UK and across Continental Europe. Easynet was established in 1996 and has operations in the UK, France and Germany. ®
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