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Bigblu Broadband swings to loss on higher costs
StockMarketWire.com
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Alternative broadband services provider Bigblu Broadband swung to a loss as higher costs offset a modest climb in revenue.
For the year ended 30 November 2020, pre-tax losses were £4.6 million compared with a profit of £153,000 a year earlier, while revenue increased 1.3% to £27.2 million.
The customer base increased by 10% to 64,918.
'We ended the year with the announcement of three substantial contract wins in Quickline and a fourth just after the year end worth a combined total of around £30 million,' the company said.
Looking ahead, the company said 'given the strong momentum at Quickline and opportunity to strengthen operations in the Nordics, the group continues to be well placed to create further value.'
Story provided by StockMarketWire.com
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