Feeds

Fibernet reports 'solid' quarter

Which is nice

Build a business case: developing custom apps

Fibernet - the UK-based outfit that provides telecoms services to large organisations as well as other telcos and ISPs - reports that its performance during Q1 has been "solid".

In a trading update published today Fibernet said service contract revenues increased to £11.6m for the three months to September, up £200,000 on the previous quarter.

It has also signed broadband deals with telecoms outfit Opal for The Carphone Warehouse and local loop unbundling (LLU) operator Be Unlimited.

"Fibernet's performance in the first quarter has been solid and we continue our progress towards profitability," said chief exec Charles McGregor.

"New business orders and contract renewals for the first quarter have both been to plan. Our margins remain in line with our expectation and we continue to maintain a substantial cash balance."

Last Friday, Fibernet confirmed it had been approached regarding a possible take-over, although at the time it said it was doubtful whether it would amount to much.

Within hours of making that announcement it issued another statement saying that the "very preliminary discussions regarding an approach have now ceased and the approach has been withdrawn". ®

The essential guide to IT transformation

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
BT customers face broadband and landline price hikes
Poor punters won't be affected, telecoms giant claims
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
EE plonks 4G in UK Prime Minister's backyard
OK, his constituency. Brace yourself for EXTRA #selfies
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.