Bigblu Broadband confident in growth prospects following restructure

Bigblu Broadband (AIM: BBB) expressed that it was ‘increasingly confident’ regarding the growth prospects of the group following a restructuring.

Hailing 2020 as a ‘transformational year’ for the group, BBB noted that trading was in line with expectations and that it has made a string of disposals at ‘extremely attractive’ prices as well as reconstituted its debt facilities.

As it posted revenues of £27m and adjusted EBITDA of £6m, the alternative broadband provider added it is now focused on increasing shareholder returns by focusing on its Australian operations (Skymesh Pty Limited), majority interest in Quickline (QCL Holdings Limited) and its Nordics business (Bigblu Norge AS).

Commenting on the prospects for BBB was CEO Andrew Walwyn:

“We have a clear direction of travel for our operations, with significant scope to generate further shareholder value as we take advantage of the various growth opportunities in each territory. Having restructured the business during the period, it is clear to see the strong growth trajectory of the Continuing Group, which performed extremely well despite the wider market issues.”

The share price of BBB is currently trading at 102p prior to the market’s open.

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