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Pipex Touts 5th Largest BB ISP Position

Posted: 02nd Apr, 2004 By: MarkJ
UK ISP Pipex Communications has touted today’s release of its financial results for the year ended 31st December 2003 by underlining its position as the UK’s 5th largest broadband operator:

PIPEX Communications plc, the telecoms network operator and provider of business broadband solutions, today reports its results for the year ended 31 December 2003.

Financial Highlights

• Turnover of £35.2 million, up from £8.1 million in 2002

• Gross profit of £15.3 million, up from £2.0 million in 2002

• Gross margins increased to 43.5% from 24.5% in 2002

• Loss before tax of £9.9 million, down from £11.8 million in 2002

• Month on month EBITDA positive by year end

Operational Highlights

• PIPEX established as the 5th largest broadband operator in the UK by customer numbers

• Acquisition and integration of XTML Ltd, CIX Ltd, Firstnet Services Ltd and PIPEX Internet Ltd

• Annualised cost savings of £15.2 million

• Customer numbers increased from 25,000 to over 150,000

• Group rebranded PIPEX Communications plc in November 2003 (formerly GX Networks plc)
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