 The firm's Demon broadband customers increased |
The Scottish business telecoms group Thus has announced an annual operating loss of �36.2m, a rise of 71%. The company said it had been encouraged by recent strong growth but it expected aggressive pricing in the industry to continue throughout the year.
Glasgow-based Thus employs 1,433 people and said it had raised staffing numbers by about 70 during the year.
Finance director John Maguire said the year had been "mixed" with margins squeezed by predatory pricing.
"This is about growth and cash flow and we're moving in the right direction on that," he said.
Cost review
The company would continue to review costs and efficiency but had no plans for major job cuts.
Thus increased its total number of Demon broadband customers by 56% to more than 150,000 with UK customers up 59% to 92,000.
There was a 100% retention rate on major customer renewals and service provision was expanded with insurer Standard Life, London Metropolitan Network, ScottishPower, Stirling Council and Amserve.
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