Business telecoms provider Thus moved towards its fifth anniversary as a listed company today with a 57% reduction in annual losses.
The group described the past year as "exciting and rewarding" after also becoming cash flow positive in the second half of the year to March 31.
Glasgow-based Thus said it was confident the positive trends would continue with the objective of a second-half operating profit next on the horizon.
Today's losses of £25 million came after the company won significant contracts with Capital Radio, Southern Water and GWR Group.
Turnover rose 14% to £332.4 million while underlying earnings lifted 61% to £43.6 million.
The group also cut capital expenditure for the year to £41 million - down from £161 million in 2000 when infrastructure spending was at its peak.
Thus will celebrate its fifth anniversary on the London market in November.
Tuesday May 04, 2004
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