BTo ups revs, cuts losses
BTopenworld - BT's mass market ISP - continues to lose money in spite of seeing a massive jump in income.
Publishing full year prelims it reported that turnover for the year jumped 59 per cent from £140 million to £222 million.
However, the ISP still made an EBITDA (earnings before interest, etc) loss of £102 million, a £96 million (48 per cent) improvement on the year before.
BTo claims the improvement is due to growth across its broadband and narrowband product ranges.
At the end of March BTo had around 1.75 million punters - with more than a million of them shelling out for some kind of unmetered Net access package.
In a statement accompanying its results BTo said: "BTopenworld continues to review its products and services with a view to driving the business to profitability whilst continuing on a rapid growth track.
"Subscriber and revenue growth continue to result in economies of scale and overheads continue to be reduced," it said. ®.