PlusNet posts improved numbers

BB numbers up too

By Tim Richardson • Get more from this author

Posted in Financial News, 26th July 2005 11:05 GMT

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PlusNet - the Sheffield-based ISP - added almost 50,000 new broadband punters over the last year as it continues to pursue its strategy of being a "best value" ISP.

The number of high broadband punters grew 68 per cent to 113,084 from 67,383 in June 2004.

The increase in numbers helped takings for the six months to the end of June increase 28 per cent to £16.4m compared to £12.8m last year.

At the same time operating profit jumped 60 per cent to £2.2m from £1.4m.

Commenting on today's interim results chief exec Lee Strafford said the company had seen "excellent progress in sales and profitability".

"We operate within a high growth market and our unique, scalable and highly automated business model puts us at the forefront of that growth. The outlook for the company remains very positive."

Like others in the industry, the ISP is still on the lookout to acquire other companies as the industry continues to consolidate but only if such deals "would add significant value to the business".

By mid morning shares in PlusNet were up 4p to 229.5p. ®