EasyNet lost £1 million a month last year despite ramping up turnover by half to £42 million.

The Net company said its losses - £12 million in 2000, compared with just £1 million in 1999 - were in line with its expectations.

The company said it generated operating profits in the UK last year and expects its European businesses to follow suit as they "mature".

Elsewhere, EasyNet says it had 2,500 ADSL customers at the end of 2000 and continues to advance its broadband offerings.

EasyNet's share price remained almost unchanged at lunch - down just 2.5p at 512.5p. ®