Profits drop by two-thirds as telecoms business restructures
The restructuring of telecoms business KCOM has hit its financial performance, with "a further decline" in revenues and margins forecast.
At the end of 2015, KCOM sold off all of its national network infrastructure outside its East Yorkshire base to CityFibre for £90m.
The results it has announced today, for the year to March, of a 66% fall in pre-tax profits, to £30.5m, and a 5% drop in revenues to £331.3m were "in line with expectations".
It attributed the reductions to the "continuing decline in legacy business" and add... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
