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Broadband Boosts EU Tiscali Results
By: MarkJ - 29 August, 2003 (1:39 PM)

Pan-European ISP Tiscali has today reported positive second quarter financial results, which can be largely attributed to the growth of its hi-speed broadband Internet access services.

Tiscali, Europe's third largest ISP, said it was signing up an average of 8,000 new high-revenue broadband users per week for a total of 470,000 at the end of June. But the number of narrowband users fell, leaving total subscriptions flat at 7.6 million.

Tiscali hiked its year-end goal for broadband customers to 750,000 from 700,000, still well behind its larger continental peers. Tiscali said broadband promotions helped it increase sign-ups during the particularly hot early summer period.

The ISP reported second quarter EBITDA (earnings before interest, tax, depreciation and amortisation) of 17.4 million euros (12Million), up from a loss of 9.5 million euros in the same period a year ago.

Analysts had forecast Tiscali would make 15.1 million euros on sales of 218 million euros. Second-quarter revenues came in slightly lower than expected at 217.2 million euros, up from 172.5 million in the second quarter of 2002.

At 8:33 a.m. British time, shares in Tiscali were trading up 2.8 percent at 6.11 euros, outperforming the Dow Jones Technology Stoxx Index, which was up 1.5 percent.

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