PlusNet publishes results for year up until end of 2004
The financial results for PlusNet have been published on the investor section of their website here. Key points for most people will be that the last 12 months saw PlusNet double its broadband users from 45,364 to 89,825 users, which helped to increase the average revenue per customer from £113 to £137. The pretax profit before exceptional items was £3,000,000, though with the cost of floating onto AIM at £1,200,000, the profit in the end remained fairly static.
The fact that PlusNet and other ISPs are growing rapidly is a reflection of the fact that BT Wholesale are connecting a new ADSL user almost every 10 seconds. Though there are concerns particularly from the smaller service providers still, that the way pricing for wholesale ADSL services is moving, that the smaller provider will be squeezed out of the market. 2005 is likely to result in providers becoming ever more competitive for your broadband subscriptions, particularly as migrations are becoming easier to do. Hopefully 2005 will finally see the ability to migrate between IPStream and DataStream services become a reality.