Fibernet reports pre-tax loss
Revenue narrows too
Posted in Music and Media, 17th October 2002 12:53 GMT
Understand how application security is evolving
Shares in Fibernet slipped in trading this morning after the alternative carrier reported a pre-tax loss of £91m.
Much of the loss - £70.1m - was attributed to an exceptional charge relating to Fibernet's exit from its French and German operations in the summer following the collapse of KPNQwest.
Putting this to one side, the company still reported a pre-tax loss of £21.1m, compared to a pre-tax profit of £3.6m in 2001.
Group turnover fell from £54.5m in 2001 to £43.1m for the year to the end of August 2002.
UK revenue fell from £52.3m last year to £36.2m this year. Despite the fall, orders have tripled in the second half of the year compared to H1 giving rise to some optimism at least.
Chief exec, Charles McGregor, claimed the company has "finished a difficult year strongly" and added that the "risks facing the business going forward have been significantly reduced".
By late morning shares had recovered slightly down 0.25p (1.1 per cent) at 22.5p. ®


The future of SaaS and IT infrastructure management
Airport insecurity: the case of lost laptops
Reducing messaging and web security costs with managed services

Win a Samsung C6625!
Is your cameraphone an oxymoron?
Reg Mobile and Wireless newsletter is go! go! go!
Sign up, sign up for The Register IT security newsletter