Bigblu Broadband, a leading broadband services provider, announced a widened pretax loss in the first half of the year due to higher operating costs. Despite this, the company remains confident that its full-year performance will meet market expectations.
During the six-month period ended May 31, Bigblu Broadband reported a pretax loss of £1.8 million ($2.3 million), compared to a loss of £183,000 in the same period last year. The operating loss also widened to £1.7 million from £131,000.
However, revenue showed a slight improvement, rising from £14.9 million to £15.0 million. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), which excludes exceptional and one-off items, increased by 2.1% to £2.1 million.
Despite the challenging first half, Bigblu Broadband expects a positive second half in line with typical seasonal trends. The company remains confident that it will meet financial market expectations for the current year.
Shares of Bigblu Broadband were up 0.5 pence, or 1.2%, at 41.5 pence as of 0708 GMT.
For more information, please contact Michael Susin.
