A telecommunications firm building a high-speed fibre network in Aberdeen has reported seeing “strong demand” for its infrastructure in the first half of the year, booking record levels of new orders.
In an update to the London Stock Exchange, CityFibre said initial contract value added in the first six months totaled £53.8million, more than double the amount added in all of 2015 (£23.2m), and over six times the level added in the first half of last year (£8.1m).
The AIM-listed company said it had signed up 3,702 new customer connections while new anchor contracts represented 55% of its business.
At the start of the year, the London-based firm raised £180million from investors and lenders to acquire national fibre and duct network assets from Kcom – formerly Kingston Communications – for £90million.
It added that its medium term target of a 50 city footprint was fully funded following an £80million equity placing and debt facilities of up to £165million in January.
