Feeds

Fibernet reports slower than expected progress

Shares dip

Protecting against web application threats using SSL

Shares in UK-based Fibernet, which provides carrier services to large enterprises, other telcos and ISPs, dipped today as the firm warned that business hasn't been as brisk as hoped.

The value of contracts signed in the last quarter (£7.9m) was below expectations and the firm doesn't expect to make up this shortfall in the second half of the year, it said in a trading statement today. And while Fibernet hasn't lost any customers in the last three months, the amount each customer has spent has been "lower than anticipated".

As a result the firm - which is still regarded as a possible take-over target - has revised its financial forecast.

"While the company expects full year revenues, EBITDA and loss before tax to improve on the prior year," it said. "The rate of progress will be slower than expected. While the loss before tax will be less than last year, it is now expected to be larger than current market expectations for the full year."

Despite this, chief exec Charles McGregor said he expects the firm's interim results to be "in line with expectation" and he remains upbeat that the telco is "on course to demonstrate improvement on prior year revenue, EBITDA and loss before tax for the full year". By mid morning shares in Fibernet were down 2.93p (4.5 per cent) at 62.75 p. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
'Kim Kardashian snaps naked selfies with a BLACKBERRY'. *Twitterati gasps*
More alleged private, nude celeb pics appear online
Google+ GOING, GOING ... ? Newbie Gmailers no longer forced into mandatory ID slurp
Mountain View distances itself from lame 'network thingy'
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
Seagate's triple-headed Cerberus could SAVE the DISK WORLD
... and possibly bring us even more HAMR time. Yay!
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.