High-speed data communications firm Fibernet has reduced pre-tax losses in the first half of its financial year thanks to new business and a high rate of customer renewals.
The Basingstoke-based group, which supplies voice and data services to corporate clients, said the total value of new contracts in the six months to February 28 was £26m.
That was down slightly from the £27m won in the previous half but up from £10m on the same period of 2002.
It has signed new contracts with the Scottish Executive, InTechnology and the Nationwide Building Society. It also renewed contracts with customers including 3i, NTL, and Abbey National.
Over the past 12 months, Fibernet has signed £53m of new contracts.
Chief executive Charles McGregor said: "In the last six months, Fibernet has signed a significant amount of new business and maintained our high rate of renewals."
At the bottom line, the company's pre-tax losses were cut to £3.2m from £11.6m in the first half of 2002.Group signals jobs boost
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