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Demon owner reports profits rise
Tuesday 22nd May 2007, by Daniel King
Telecoms firm Thus has reported a rise in profits following tough competition for broadband and internet services under its Demon trademark.
The firm posted earnings of £42.9 million for the year until the end of March, with overall group revenues increasing by 53 per cent.
Acquiring communications company Your Communications and internet supplier Legend Communication has also been attributed to the strong growth in revenue.
In addition, operating losses were seen to fall to £9.5 million from £11.6 million, while like-for-like service revenues grew by four per cent.
Earlier increases in internet revenues allowed the firm to release new products under its Demon brand last year, but operating profits have dropped as broadband pricing becomes more competitive and dial-up revenues show losses.
At the end of last month, the firm's Demon brand was placed second in Epitiro's Internet Performance Indicator report.
Categories: Demon
