Easynet narrows losses

Pan-European broadband network provider Easynet reported that 2003 revenues jumped 27% year-on-year to £116m. The company also managed to significantly narrow EBITDA loss for the full year to £5.7m, down from a loss of £22.6m in 2002, and confirmed that it reached a positive EBITDA in December 2003. In 2004, Easynet will extend investments in local loop bundling in the UK with an additional 80 exchanges on the cards for this year, taking its total exchanges to approximately 230 by the end of 2004. The company hopes to be cash flow positive during 2005.

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