Plusnet pushes on in competitive market

BROADBAND and phone provider Plusnet has continued to hold its own in a fiercely competitive market.

The Sheffield-based business said the Broadband market continues to be “extremely competitive” in the UK with the introduction of TV, phone and Broadband bundles from competitors vying for market share.

However, Plusnet said it continues to perform well in these market conditions through its investment in marketing and the delivery of competitive products, which its says has led to a significant increase in customers.

In its latest Companies House accounts for the year to March 31, 2014, turnover grew from £140.6m last year to £178.9m this time.

Profit on ordinary activities before tax came in at £25.2m, down from £28.4m in 2013.

Underlying EBITDA (earnings before interest, tax, depreciation, and amortization) was up 36% to £44.2m, compared to £32.6m the year before. 

“Plusnet achieved 17% customer growth year on year by investing significantly in market awareness and continuing to focus on the price and product suite to ensure a competitive proposition is maintained,” it said.

“The number of employees has increased as a direct result of an increase to the customer base and to ensure that Plusnet infrastructure, products and strategy continues to evolve in line with the company’s growth.”

The company also said it is looking to work more closely with other areas of BT to increase internal revenues and to work in partnership with BT Consumer and BT Business on product offerings.

 

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