Technology

Thus increases profits dramatically

UK telecommunications operator Thus [THUS.L], nearly doubled its profits in the first half of the year and said it was on track for positive cash flow by March 2004 and would break even at the operating level by March 2005.

CBR Staff Writer November 3, 2003

The Glasgow-based company said new contracts with GWR, Virgin Group and Granada Interactive, increased revenues by 10% to GBP157.5 million ($266.8 million).

At the same time, capital expenditure was cut to GBP16.7 million from GBP23.7 million in the first half of last year, and cash outflow was down to GBP8.3 million.

All of which helped to increase earnings before interest, tax, depreciation and amortisation from GBP10.9m to GBP20.6 million, with net losses cut from GBP31 million to GBP10.4 million.

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