KCOM’s half year revenues fall

Photo: Anthony Devlin/PA Wire
Photo: Anthony Devlin/PA Wire
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TELECOMS group KCom today revealed that its half year revenues have declined, despite the success of its full fibre roll-out in East Yorkshire.

Over the half year ended September 30 2018, KCOM’s group revenue was £143.4m, compared with £151.3m in the same period last year.

The company said its Hull and East Yorkshire operation continued to perform well and in line with market expectations

Graham Sutherland, the chief executive, said, “Despite only joining the business last month, I believe KCOM has considerable skills, assets and capabilities.

“The full fibre rollout in Hull and East Yorkshire leads the market, provides us with sustainable cash flows and enables the further development of our service offering. However, the current financial performance of our two national businesses is below our expectations, in particular, in National Network Services where we are experiencing high levels of customer churn.

“In the second half of the year, we will focus on three key priorities - review of our business strategy to identify how we create the best value from KCOM’s assets, implementing initiatives to improve business performance and improving transparency through clear metrics on which our progress can be measured. We will be in a position to share outputs from the strategic review in March.”