Grain is celebrating record achievements as its business goes from strength to strength, following the financial results for the quarter ended March 2025.
Mon, 17/02/2025 - 13:18
WightFibre has reported good results for the financial year ended September 2024, with an increase of 33% in revenue and a boost for network coverage, with 88% of residents now accessing full fibre across the Isle of Wight.
Revenue for the period was £7.1m (FY 2023 - £5.4m), with losses were £18.9m (FY 2023 - £15.2m) alongside net liabilities of £56.6m.
The rate of customer acquisition is running ahead of plan, with more than 30% penetration as the company’s local brand recognition and reputation for customer services grows.
The altnet provider also became EBITDA-positive in the second half of the year, with EBITDA losses of (769,250) in the first half and positive EBITDA of 96,228 in the second half, driven by 33% revenue growth in the year and a focus on cost control.
