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Network operator and broadband ISP 4th Utility, which have been quietly deploying their gigabit speed Fibre-to-the-Premises (FTTP) service to UK homes (SDU) and large residential buildings (MDU), this week published their annual accounts for the year ended 31st March 2025 and reported a “doubling of monthly subscriptions sold through the year“.
The provider, which back in 2022 spoke of holding an ambitious plan to deploy their full fibre “service [to] another 250,000 homes over the next five years” (i.e. roughly 300,000 by 2027), did not provide an update on their progress toward this in their latest results (i.e. no customer or homes passed totals). But we assume they’ve probably been impacted by the same sort of wider economic pressures as everybody else (i.e. rising build costs, high interest rates and competition).
However, the results did reveal that their turnover more than doubled to £4.74m in the year (2024: £1.94m), which also contributed to the negative EBITDA (earnings before interest, taxes, depreciation, and amortisation) reducing to £5m. The company also made £2.8m of capital expenditure, which was invested into their infrastructure and systems to support further growth.
The overall loss for the financial year came in lower than the prior year at -£12.7m (2024: -£15.3m), but they also had total assets less current liabilities of £31.6m (2024: £37.7m) and total equity of -£1.6m (2024: £11m). Finally, the average monthly number of people (including Directors) employed by the company during the year was 40, which is down from 58 in the prior year.