Lightning Fibre has made its network builds across Brighton and Hove, Worthing and Lancing ready for service and has connected its first customer in the region.
Mon, 2/09/2024 - 11:44
Increased customer connections saw Freedom Fibre’s revenues increase by 114% to £623,185 for the year ended 30th November 2023.
The altnet also saw its gross profit increase by 458%. This took the company from losses of £20,672 to a profit of 73,949.
Due to the continuation of its network build, Freedom Fibre reported an increased 27% operating loss and 50% increase in CAPEX.
During this period, Freedom Fibre completed the acquisition of VX Fibre to create a combined network of 300,000 premises passed.
Freedom Fibre also won a £24m government contract as part of Project Gigabit.
