Strong sales from UK corporate and consumer customers has helped pan European Internet service provider Easynet turn loss into profit.
The company posted a retained profit of £252,000 for the six months ending 30 June, 1999, compared to a loss of £495,000 in the corresponding period in 1998.
Turnover rose dramatically by 80 per cent to £12.8 million, up from £7.1 million for the year ago period.
Easynet’s chairman David Rowe said this is due to the growth of free dial-up services in the UK which proved a revenue stream to the company via its telecoms division.
Rowe added that the UK side of the business achieved net profit in excess of £1.2 million, including European Group costs. This reflects the relative maturity of the UK business in comparison with most of Europe, he said.
Revenue from providing access, hosting, security and integration to corporates grew to £8.6 million, an increase of 79 per cent on the same period in 1998, while revenue from dial-up customers rose 83 per cent to £4.2 million.
The company said it will use this profit to enter into more interconnect agreements and develop its European infrastructure.
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