KCom signs up 10,000 new 
customers to fibre broadband

KCom executive chairman Bill Halbert
KCom executive chairman Bill Halbert
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TELECOMS provider KCOM Group ​has signed up its ​10,000th​ ​Lightstream customer​ ​as part of its investment in super-fast, optic fibre-based broadband network in Hull and East Yorkshire. ​

The group’s Lightstream broadband​ service promises to be eight times faster ​than its standard KC ​broadband for an additional £5, including phone services.

The deal includes ​unlimited UK calls to friends and family.

The ​Hull-based g​roup ​said its strategy of focusing on key target markets ​is progressing and ​​the firm performed in line with expectations​ in the six months to September 30​​, with continued strong cash generation.​

KCom said ​it ​will give a further update on its fibre deployment and other initiatives at the interim results​ on November 25.

It added that its strong cash generation means it ​will be able to continue with its progressive dividend policy while investing in creating leadership positions in all its target markets.​

​Analyst Andrew Darley at FinnCap said: “KCom’s typically brief-and-to-the-point trading update for the half year to September 30 describes trading in line with expectations, with continued strong cash generation.

“The East Yorkshire fibre roll-out has recently secured its 10,000th Lightstream customer, highlighting KCOM’s ability to generate strong cash flow to afford both a generous and growing dividend as well as continuing investment.

“We look forward to interims on November 25.”

The Hull-based FTSE 250 firm, which provides communications services for customers such as British Airways and Virgin Group, has also been investing in value added services for the enterprise market.

KCom has said it plans to invest more “aggressively” in the business after securing a finance package worth £200m earlier this year .

Chief executive Bill Halbert said the company’s plans include investing in faster deployment of fibre broadband and also in higher value added services such as developing its IT services activity within the enterprise market.

He said of the finance deal: “It gives us a little headroom to invest more aggressively.”

Mr Halbert ​has ​said that the group w​ill​ also consider acquisitions.

The finance was secured from a banking syndicate comprising Lloyds, Barclays, HSBC, Santander and RBS.