Feeds

PlusNet shares bounce on results

Future's bright, but not Orange

Security for virtualized datacentres

PlusNet shares recovered slightly today after falling sharply on results yesterday. Shares are at 110p, after falling 9.5 per cent yesterday.

Although PlusNet posted good financials for the three months ended 30 June 2006 the City is concerned about new competition in the broadband market. Turnover was up 37 per cent to £22.5m and operating profit up 41 per cent to £3.1m. Profit before tax was £3.03m for the six months ended 30 June 2006 compared to £2.28m for the six months ended 30 June 2005.

PlusNet's chairman Kevin Adams said in a statement: "Market uncertainty caused by new mass market entrants may continue to affect our growth rate in the short term, but in the longer term we are confident that our clear focus and unique technological advantage will deliver growth as the market evolves and matures."

The ISP believes many of the current so-called "free" broadband offers are unsustainable in the long term and that many punters don't want the "legacy services" being bundled with converged broadband offers. 90 per cent of PlusNet revenue comes from broadband and related services.

PlusNet claims its users "are typically drawn from a growing audience of IT professionals and technology enthusiasts" who are interested in quality service rather than just low price. Furthermore the company believes that users of mass market ISPs "will become more discerning" and look for better quality connections.

The ISP has 198,000 broadband subscribers, up 75 per cent on a year ago. PlusNet said it was disappointed by this - it said take-up had been slowed by the problematic rollout of BT's 8Mb services and slowed between the first and second quarters of 2006.

For more download the press release (pdf) here.

Secure remote control for conventional and virtual desktops

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
'Serious flaws in the Vertigan report' says broadband boffin
Report 'fails reality test' , is 'simply wrong' and offers ''convenient' justification for FTTN says Rod Tucker
This flashlight app requires: Your contacts list, identity, access to your camera...
Who us, dodgy? Vast majority of mobile apps fail privacy test
Apple Watch will CONQUER smartwatch world – analysts
After Applelocalypse, other wristputers will get stuck in
Shades of Mannesmann: Vodafone should buy T-Mobile US
Biting the bullet would let Blighty-based biz flip the bird at AT&T
Drag queens: Oh, don't be so bitchy, Facebook! Let us use our stage names
Handbags at dawn over free content ad network's ID policy
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.