Thus cuts losses, increases T/O
Demon notches up 25,000 broadband punters
Losses at Thus almost halved during last year as the telco increased turnover in its telecoms, data and Internet operations.
Publishing results for the year to the end of March the alternative telco that competes with the likes of BT increased turnover by nine per cent to £291.2 million. Pre-tax losses fell 44 per cent to £58.8 million.
Turnover at its Internet operation grew ten per cent to £90.3 million. The company - perhaps best known for its Demon-branded ISP - saw the number of broadband punters increase five-fold to 25,000.
Thus also saw an increase in broadband punters in its Demon Netherlands operation, where numbers there tripled to 7800.
In a statement, Thus boss William Allan said: "Despite difficult trading conditions, Thus has delivered another strong set of results in line with our objective to become cash flow positive after interest and capital expenditure by March 2004."
However, the company is still cautious about the future citing continued economic uncertainty.
Shares in Thus were up 1p (7.55 per cent ) at 14.25p by mid-morning. ®