Bigblu Broadband trades in line with FY expectations

Broadband provider Bigblu said on Tuesday that trading for the year ended 30 November was in line with expectations.

Bigblu said its overall financial performance had been "robust" despite impacts stemming from the Covid-19 pandemic, with revenues of roughly £27.0m and adjust underlying earnings of around £6.0m, both up £1.0m year-on-year.

The AIM-listed group stated that with a customer base of 65,000 as of the end of November, its directors were "increasingly confident" in the company's future growth prospects.

Looking forward, Bigblu stated it would seek to further grow its presence in Australia, where it was already a market leader, while its focus for the Nordics was on making necessary investments to revitalise its customer proposition.

With net cash of £7.0m, Bigblu believes itself to be "well-positioned" to capitalise on the growth potential open to it.

Chief executive Andrew Walwyn said: "We have a clear direction of travel for our operations, with significant scope to generate further shareholder value as we take advantage of the various growth opportunities in each territory.

"Having restructured the business during the period, it is clear to see the strong growth trajectory of the continuing group, which performed extremely well despite the wider market issues."

As of 1145 GMT, Bigblu shares were up 1.29% at 102.30p.