Original article ISPreview UK:Read More
Alternative network ISP Quickline, which is rolling out a new gigabit-capable Fibre-to-the-Premises (FTTP) and wireless (FWA) broadband network across rural parts of Yorkshire and Lincolnshire in England (3-Year Rollout Plan), has published their accounts to the end of 2024 and revealed revenues grew to £3.9m (2023: £3m). But they had an operating loss of £33.1m (2023: £28.8m).
Just to recap. Quickline’s network rollout is currently aiming to extend gigabit-capable broadband to a further 360,000 UK premises across thousands of rural communities (roughly 170k via publicly funded projects and almost 200k from commercial builds) and the provider hopes to end 2025 with a total of 200,000 premises passed.
Sadly, the latest results don’t provide any updated totals for current premises passed or customers, but we do learn that the company now has total assets worth £156m (2023: £86m) and total liabilities of -£97.7m (2023: -£136m). This gives them positive net liabilities of £58.6m (2023: -£49.7m).
The average number of people employed by the company (inc. Directors) during the year reached a total of 334 (2023: 251). Quickline also received some other operating incoming from public funding, including £297k (2023: £0) from government grants, £1.235m from broadband contracts via the Building Delivery UK agency (2023: £686k) and £1.942m from the gigabit broadband voucher scheme (2023: £700k).
Finally, it’s worth pointing out that Quickline’s ultimate parent company is QCL Topco Limited, although they’re currently a few days overdue on their own accounts.