Wessex Internet Builds Rural Broadband to 50k UK Premises as Revenues Rise
Rural-focused broadband ISP and alternative network builder Wessex Internet, which is deploying a mix of full fibre (FTTP) and fixed wireless networks across Southern England, has today published their annual accounts to the end of 2024 and highlighted both their “best-in-class” take-up of over 30% and a 20.5% rise in revenues to £5.76m (2023: £4.78m).
The provider, which also holds several state aid backed Project Gigabit build contracts (valued at £72m to deliver full fibre across over 53,000 properties by 2029), currently covers 50,000 premises (Oct 2025) across parts of Dorset, Hampshire, Wiltshire and Somerset (inc. 14,000 customers – Aug 2025). Existing deployment plans aim to expand this to 137,000 premises (here).
Overall, the provider’s latest accounts could be said to be healthier or more stable than those of quite a few other altnets we’ve seen recently, and they also make a point of highlighting how they’re “up to date on all delivery milestones that fell during 2024 and to the date of these financial statements“.
Advertisement
Wessex Internet also describes itself as being “fully funded until 2029” and states that “take-up of our network is best-in-class; exceeding 30% overall and 50% in our most established networks“. We’ve summarised some of their key figures below, although it should be noted that the comparison figures for 2023 actually reflect a 15-month period to the end of December 2023.
Key Figures from Wessex Internet’s Results (Dec 2024)
➤ Revenues increased 20.5% to £5.76m (2023: £4.78m)
➤ Operating loss increased to £7.84m (2023: £5.43m)
➤ Total Homes Passed is listed as 50,000 premises
➤ Total Homes Connected increased by 50% during the year
➤ Gross profit remained fairly stable at £3.62m (2023: £3.68m)
➤ Total fixed assets worth £64.84m (2023: £39.49m)
➤ Net liabilities of -£22.27m (2023: -£10.12m)
➤ Average monthly number of employees (inc. Directors) for the year ended 2024 on 307 (includes a 180 strong construction team), which is up from 213
➤ Network investment increased by £24.7m in the year (2023: £22.6m)
The company currently has a £68m debt facility with no capital repayments under 2029. Some £28.4m of this has already been drawn, leaving £39.6m available.
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
« Broadband and Mobile Considered as Part of UK Home Buying and Selling Reform
Privacy Notice: Please note that news comments are anonymous, which means that we do NOT require you to enter any real personal details to post a message and display names can be almost anything you like (provided they do not contain offensive language or impersonate a real person’s legal name). By clicking to submit a post you agree to storing your entries for comment content, display name, IP and email in our database, for as long as the post remains live.
Only the submitted name and comment will be displayed in public, while the rest will be kept private (we will never share this outside of ISPreview, regardless of whether the data is real or fake). This comment system uses submitted IP, email and website address data to spot abuse and spammers. All data is transferred via an encrypted (https secure) session.