Exeter-based broadband ISP Jurassic Fibre, which is currently rolling out a new Fibre-to-the-Premises (FTTP) network across South West England (Cornwall, Devon, Somerset, and Dorset), has today announced the appointment of Paul Hellings to replace Michael Maltby in the position of CEO.
Paul is said to have been appointed to help “lead the company through its next stage of growth” and he certainly has plenty of experience behind him. Paul’s previous roles include being MD of Virgin WiFi, Regional Director of Virgin Media and, most recently, CEO of Shell Energy. Paul has also occupied board positions within G4S Risk Management and Arqiva Telecoms, from a career that started as an Engineer with the BBC.
The operator itself is currently being supported by an investment of £250m from Fern Trading, which is fuelling their ambition to cover 500,000 premises across the region by the end of 2025 (including 30 towns and villages). So far they’ve managed to complete coverage to 100,000 premises (across 21 towns and villages), which is up sharply from the 75,000 they reported in March 2022.
Paul Hellings said:
“The opportunity and ambition ahead of Jurassic are truly compelling – to develop the UK’s digital experience, to enrich people’s lives and to enable businesses to prosper. I am therefore delighted to join the Jurassic Fibre team who share my values, my passion for our customers, and my commitment to service excellence.”
Residential customers on the network can take a 150Mbps (30Mbps upload) package from just £20 per month on a 24-month term (£35 thereafter) – this includes a router and free standard installation, which rises to just £40 per month if you want their top 950Mbps (200Mbps upload) tier (£80 after the first 24-months).
I wonder why?
Looking at revenue it’s not surprising, not able to pay 7% interest on £250M to Fern Trading without customers
Whilst it may seem all of the world runs on debt-based “investment”, predicated on a 30% ROI and a cash-in at 3-5 years, that’s not the case everywhere and there are still Proper Investors around who understand that equity isn’t the same thing as debt and look to the long term.
Glad I’m not the only one that is aware of how badly they’re doing.
Ignoring how shambolic the build is and how many basic things they don’t support, the customer take up is blatantly terrible and they’re getting cheaper and more desperate.
From time to time they even run 6 months free, no install cost, free equipment inc wifi gear if you nag enough… on a 1 month rolling contract. Good luck making money.
Was he the guy that was responsible for the crappy virgin superhubs ?
No, for that you’d need to look toward Liberty Global and the bean counters.
And Intel for the crappy Puma chipset. Liberty Global and their customers weren’t the only victims.