Tiscali OKs H1 numbers
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Posted in Financial News, 27th September 2004 14:24 GMT
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Tiscali execs have have rubber-stamped the ISP's results for the first half of the year (H1). The figures - broadly in line with the numbers released for Q2 results - show that H1 revenues rose 25 per cent to €538m (£365m) compared to a year ago.
Despite this improvement, Tiscali only managed to shave a couple of million off its pre-tax loss - down from €141.6m (£96m) to €134.3m (£91m) for the first six months of the year.
Still, Tiscali's had a busy time since then. It's flogged five of its under-performing country operations (Austria, South Africa, Norway, Sweden and most recently Switzerland) for more than €80m (£54m). And the company has also appointed banker Vittorio Serafino as executive chairman of Tiscal,i following the resignation of Renato Soru to pursue a political career in his native Sardinia.
Tiscali is looking to generate €1.2bn (£820m) in revenue for 2004 and see the number of broadband subscribers swell to 1.7m. ®
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